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AlliedFinancial
76 Posts |
 Posted - 07/23/2008 : 8:29:10 PM
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I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans. A lot of poeple are talking about loan modifications. Can I make money in this field?? Are a lot of people doing it now?
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ML
3016 Posts |
Posted - 07/23/2008 : 8:33:05 PM
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You must leave now, take what you need, you think will last.
But whatever you wish to keep, you better grab it fast.
Yonder stands your orphan with his gun,
Crying like a fire in the sun.
Look out the saints are comin through
And its all over now, baby blue.
-bd |
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AlliedFinancial
76 Posts |
Posted - 07/23/2008 : 8:35:08 PM
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| So Anyone doing Loan Mods? |
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dkendall1979
10261 Posts |
Posted - 07/23/2008 : 8:41:26 PM
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"And Shepherds we shall be
For thee, my Lord, for thee.
Power hath descended forth from Thy hand
Our feet may swiftly carry out Thy commands.
So we shall flow a river forth to Thee
And teeming with souls shall it ever be.
In Nomeni Patri Et Fili Spiritus Sancti."
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Zus
819 Posts |
Posted - 07/23/2008 : 8:42:22 PM
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It is a talent of the weak loan officer to persuade themselves that they suffer for something when they suffer from something; that they are showing the way when they are running away; that they see the light when they feel the heat; that they are chosen when they are shunned.
quote:
Originally posted by AlliedFinancial
I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans. A lot of poeple are talking about loan modifications. Can I make money in this field?? Are a lot of people doing it now?
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VVance
2489 Posts |
Posted - 07/23/2008 : 8:45:08 PM
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| Geez...Give the guy a break. For all you know, he has a family to feed and is wanting to know if there's any money in mods. |
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dkendall1979
10261 Posts |
Posted - 07/23/2008 : 8:48:15 PM
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We were all quoting famous works of times past and you had to come and ruin it with your good nature!
quote:
Originally posted by VVance
Geez...Give the guy a break. For all you know, he has a family to feed and is wanting to know if there's any money in mods.
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ALBY
177 Posts |
Posted - 07/23/2008 : 8:48:21 PM
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Brother, I hear yah!!!!
I can send out a mailer and generate a 5% response rate and get no loans because of lack of equity or bad credit, or high debt ratios or no assets or......(fil in the blank).
Unless you are doing purchase money you are in trouble. The refi game is Cali is dead for the next 2-3 years. If its bad now imagine how difficult the market will become once rates start to increase after the electon.
There is a lot more ugly left in this market...I aint leaving, but its really hard to make any money.
All of us had it so good for so long and now we are left with a shell of an industry that keeps changing for the worse every day.
I feel your pain and can empathize with your frustration!!!
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Zus
819 Posts |
Posted - 07/23/2008 : 8:52:44 PM
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If someone has a family to feed and are Not making a living working as a loan officer with of course No set salary. It would Not be helping him or his family by going into another No salary Job doing loan mods. Loan mods is sideline income, you make a side living with it, and closing your mortgage is your bread and butter...
I have a ton of friends that could not make a living as loan officers, they did however like the industry.... so they got a Salary Job with a lender etc .. Tons of 9-5 Jobs with great salary's on Craigslist everyday in all kinds of great Industry's. I know If I could Not put food on the table, and this industry was Not working out for me & my family. I would take a 9-5pm desk job even a 9-9pm desk Job.. Whatever it Takes!!
So my advice.. Do Mods in the evening, when your 9-5pm salary job is done.. a few mods a month with a set base salary coming in.. you are good to go!
Please Note, I am not saying this directly about the person who started this thread, I do not know if he has a family, or why he is ending his time in this industry.. I am simply sending a reply to Vance..
My 2 Cents!
quote:
Originally posted by VVance
Geez...Give the guy a break. For all you know, he has a family to feed and is wanting to know if there's any money in mods.
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homebroker@sbcgl
3519 Posts |
Posted - 07/23/2008 : 8:52:47 PM
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| There is lot of money in loan mods, be careful and know your state laws before you start, collection of money from people in foreclosure can sometimes lead to jail time in some states. |
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Zus
819 Posts |
Posted - 07/23/2008 : 9:09:53 PM
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I agree with everything said about how hard the market is, But I also think if you are putting in 60hr-80hrs week, working Monday - Saturday. You are email marketing to real estate agents, cold calling off fresh leads , or even title company free data if your budget does not allow you to buy leads, calling past clients, hitting the pavement, door to doors.. You can still make a great living.. Yes the days of " free money are over " and I am happy they are gone, most made money they never should have made, off products that should have never existed. Any Industry has up's and down's .. You get by during the down times, you thrive and save during the good times!!
This declining market is the worst, even I get up every so often .. really stressed.... But then the end of the month rolls around and a few end up funding from the 15-20 that I thought would fund. and bottom line that few still works out to a nice living..
If you work on 20 loans a month, 3-4 will fund.. if you work on 5 loans a month chances are in this Decreasing market 1 or None will fund..
To all my follow members that are about to give up, work 10 times harder for just one more month , and you will see results 100%
Every day people are buying homes 99% of them needed mortgages, team up with good Real Estate Agents !! All kinds of ways to still make ends meet! The next best thing to teaming up with great real estate agents.. is back to the basics and start Cold calling.. takes tons of hours and effort,and yes I know " you hate cold calling ".. the results are well worth it!
quote:
Originally posted by ALBY
Brother, I hear yah!!!!
I can send out a mailer and generate a 5% response rate and get no loans because of lack of equity or bad credit, or high debt ratios or no assets or......(fil in the blank).
Unless you are doing purchase money you are in trouble. The refi game is Cali is dead for the next 2-3 years. If its bad now imagine how difficult the market will become once rates start to increase after the electon.
There is a lot more ugly left in this market...I aint leaving, but its really hard to make any money.
All of us had it so good for so long and now we are left with a shell of an industry that keeps changing for the worse every day.
I feel your pain and can empathize with your frustration!!!
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rtrefflich
3414 Posts |
Posted - 07/23/2008 : 9:15:44 PM
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I'm in Cali and have done loans for a long time, however I have turned to the RE business in addition to originating loans. There are tons of people who are looking at FHA, especially in CA and since I don't want to lose the option of doing RE (I have always done it for friends, family, etc.) I don't want to go FHA myself. I still get tons of referrals and do the conventional as well as the purchases. It is helping make up where I was missing out on loans.
In addition, we do loan mods, but there is not a lot of money there. Banks are now offering them to clients directly (although I think/know we can do a better job for them then they do) and that hurts the chances that you would have to charge for it.
As mentioned, learn the state laws, get with a good attorney who can help you out. |
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KSCOTTMIDACAP
101 Posts |
Posted - 07/23/2008 : 9:19:55 PM
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I completely agree with everyone saying that hard work still pays off. There are a lot of people in this industry giving up because they do not want to work hard enough or are too slow to, or refuse to adapt to market conditions. It is a ****ty thing to say, but the more people that give up/fail in the next twelve months, the more the people who worked hard and stuck it out will prosper. Keep the faith and stay on the phone, and there is plenty of money to be made. Anyone in NJ not feeling their boss has the same attitude/abilities, email me.
Ken |
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MoneyLenderP
1617 Posts |
Posted - 07/23/2008 : 10:00:41 PM
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| bro do loan mods...as well as being a loan officer...expand |
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waynepbright
3678 Posts |
Posted - 07/23/2008 : 10:02:09 PM
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ML, YOU QUITE THE POET - THAT WAS GOOD ABOVE! |
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waynepbright
3678 Posts |
Posted - 07/23/2008 : 10:06:09 PM
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GOOD POSTS ZUS .... |
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ritabradley01
3228 Posts |
Posted - 07/23/2008 : 10:29:29 PM
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| This business is not dead. It's just sleeping. |
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DINEROS
1143 Posts |
Posted - 07/24/2008 : 06:08:51 AM
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quote:
Originally posted by AlliedFinancial
I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans. A lot of poeple are talking about loan modifications. Can I make money in this field?? Are a lot of people doing it now?
Not dead-the government just decided to cease it!
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CoolMtgGuy
3704 Posts |
Posted - 07/24/2008 : 06:21:56 AM
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LOs being deeply philosophical today ... very interesting.
OP ... best of lust to you with whatever you do. Only you know your situation and I don't have any great suggestions for you. Sales is a good way to make a living where reward is more directly tired to effort and results than salaried jobs. Try finding a sales position somewhere outside the mortgage industry (eg: solar systems, big-ticket home appliances, etc.) |
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darkstar
18289 Posts |
Posted - 07/24/2008 : 06:33:36 AM
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quote:
Originally posted by AlliedFinancial
I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans.
Is this because you're not an outbound calling type of person?... |
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KipW
256 Posts |
Posted - 07/24/2008 : 06:45:26 AM
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quote:
Originally posted by KSCOTTMIDACAP
I completely agree with everyone saying that hard work still pays off. There are a lot of people in this industry giving up because they do not want to work hard enough or are too slow to, or refuse to adapt to market conditions. It is a ****ty thing to say, but the more people that give up/fail in the next twelve months, the more the people who worked hard and stuck it out will prosper. Keep the faith and stay on the phone, and there is plenty of money to be made. Anyone in NJ not feeling their boss has the same attitude/abilities, email me.
Ken
AMEN! We got spoiled 2003-2006! |
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the_mortgage_guy
1194 Posts |
Posted - 07/24/2008 : 07:02:52 AM
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| Darmok & Gilad at Tenagra! |
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AlliedFinancial
76 Posts |
Posted - 07/24/2008 : 08:47:01 AM
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| Loan Mods? |
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darkstar
18289 Posts |
Posted - 07/24/2008 : 08:48:35 AM
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| Why not call some loan mod companies and talk to them?... |
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Cool Hand Luke
289 Posts |
Posted - 07/24/2008 : 09:39:45 AM
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Success is going from failure to failure without losing enthusiasm.
Winston Churchill
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rychecky
87 Posts |
Posted - 07/24/2008 : 09:48:21 AM
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| I can help you learn if you want. |
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Captain Mortgage
1745 Posts |
Posted - 07/24/2008 : 09:53:35 AM
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Recorded sales in May 2008:
Riverside County - 3,281
San Bernardino County - 1,931
5,212 Total loans written in the month of May within a 20 minute radius of my house. I think there's still mortgages to be written out there. |
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frank drigotas j
1518 Posts |
Posted - 07/24/2008 : 2:28:26 PM
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Joel,
More compelling would be the number of those loans arranged by mortgage brokers.
I suspect most of them were written by banks, or obtained by the consumer online through a bank.
The nub of the matter is not the number of loans being written, but the 1) diminished number of brokers 2) the diminished avenues of placement for brokers, and 3) the concerted efforts of banks, the government, the states, and wall st, to squeeze out mortgage brokers entirely. That is not even factoring in the extreme dislike (polite term) of the general public for the mortgage broker nowadays.
This nonsense about "only the strong will survive" is just that...nonsense, a rallying cry for those left in a dying business.
dollar |
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EMScommercial
5138 Posts |
Posted - 07/24/2008 : 2:35:46 PM
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| what cha gonna do rather than loans? |
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frank drigotas j
1518 Posts |
Posted - 07/24/2008 : 2:39:27 PM
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Hello Chris,
Trying to stay alive and enjoy everything every day. I seem to be doing well
at both.
dollar |
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richrano
291 Posts |
Posted - 07/24/2008 : 2:42:07 PM
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| where art thou ysp? |
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bestbet123
1577 Posts |
Posted - 07/24/2008 : 3:05:56 PM
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| send me all your dead files so i can close them. |
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waynepbright
3678 Posts |
Posted - 07/24/2008 : 6:09:51 PM
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don't forget about www.nfihelp.com |
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ML
3016 Posts |
Posted - 07/24/2008 : 6:44:13 PM
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End Of The Line
Well it's all right, riding around in the breeze
Well it's all right, if you live the life you please
Well it's all right, doing the best you can
Well it's all right, as long as you lend a hand
You can sit around and wait for the phone to ring
Waiting for someone to tell you everything
Sit around and wonder what tomorrow will bring
Maybe a diamond ring
Well it's all right, even if they say you're wrong
Well it's all right, sometimes you gotta be strong
Well it's all right, As long as you got somewhere to lay
Well it's all right, everyday is Judgment Day
Maybe somewhere down the road aways
You'll think of me, and wonder where I am these days
Maybe somewhere down the road when somebody plays
Purple haze
Well it's all right, even when push comes to shove
Well it's all right, if you got someone to love
Well it's all right, everything'll work out fine
Well it's all right, we're going to the end of the line
Don't have to be ashamed of the car I drive
I'm just glad to be here, happy to be alive
It don't matter if you're by my side
I'm satisfied
Well it's all right, even if you're old and gray
Well it's all right, you still got something to say
Well it's all right, remember to live and let live
Well it's all right, the best you can do is forgive
Well it's all right, riding around in the breeze
Well it's all right, if you live the life you please
Well it's all right, even if the sun don't shine
Well it's all right, we're going to the end of the line
-Traveling Wilbury's
http://www.youtube.com/watch?v=3DjRJ9ubbJQ&feature=related |
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khoiey
1583 Posts |
Posted - 07/24/2008 : 7:25:09 PM
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Just in any field ie. insurance etc... There are about 90% chance of people will quit during the first year alone. Mortgage lo should be the same thing and should held up to same professionalism. It's tough to be commission driven. Those who are doing hella good job didn't quit.
I wish you find a better avenue/job. Loan MOD has no money in it. Try to get "broke" people to pay you money... Yeah... that's a good idea. I just hooked up with a real estate office today and they gave me 3 good clean files, and 4 NO DOCs with 50% downpayment (foreign nationals). They said they are looking for a broker to rely since CW just cut them off. Their mantra is now "Indymac is out, CW is bought, banks don't want to lend money, brokers can help". Yeah I know... it's weird. |
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Zus
819 Posts |
Posted - 07/24/2008 : 7:36:44 PM
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Good Job!!
quote:
Originally posted by khoiey
Just in any field ie. insurance etvc... There are about 90% chance of people will quit during the first year a long. Mortgage lo should be the same thing and should held up to same professionalism. It's tough to be commission driven. Those who are doing hella good job didn't quit.
I wish you find a better avenue/job. Loan MOD is got no money in it. Try to get "broke" people to pay you money... Yeah... that's a good idea. I just hooked up with a real estate office today and they gave me 3 good clean files, and 4 NO DOCs with 50% downpayment (foreign nationals). They said they are looking for a broker to rely since CW just cut them off. Their mantra is now "Indymac is out, CW is bought, banks don't want to lend money, brokers can help". Yeah I know... it's weird.
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khoiey
1583 Posts |
Posted - 07/24/2008 : 7:41:55 PM
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I love a hard-earned relationship. I expected to fund those 7 files plus a $800k daycare center SBA deal with $16k commission riding on that one.
quote:
Originally posted by Zus
Good Job!!
quote:
Originally posted by khoiey
Just in any field ie. insurance etvc... There are about 90% chance of people will quit during the first year a long. Mortgage lo should be the same thing and should held up to same professionalism. It's tough to be commission driven. Those who are doing hella good job didn't quit.
I wish you find a better avenue/job. Loan MOD is got no money in it. Try to get "broke" people to pay you money... Yeah... that's a good idea. I just hooked up with a real estate office today and they gave me 3 good clean files, and 4 NO DOCs with 50% downpayment (foreign nationals). They said they are looking for a broker to rely since CW just cut them off. Their mantra is now "Indymac is out, CW is bought, banks don't want to lend money, brokers can help". Yeah I know... it's weird.
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Zus
819 Posts |
Posted - 07/24/2008 : 7:43:04 PM
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Amazing
quote:
Originally posted by khoiey
I love a hard-earned relationship. I expected to fund those 7 files plus a $800k daycare center SBA deal with $16k commission riding on that one.
quote:
Originally posted by Zus
Good Job!!
quote:
Originally posted by khoiey
Just in any field ie. insurance etvc... There are about 90% chance of people will quit during the first year a long. Mortgage lo should be the same thing and should held up to same professionalism. It's tough to be commission driven. Those who are doing hella good job didn't quit.
I wish you find a better avenue/job. Loan MOD is got no money in it. Try to get "broke" people to pay you money... Yeah... that's a good idea. I just hooked up with a real estate office today and they gave me 3 good clean files, and 4 NO DOCs with 50% downpayment (foreign nationals). They said they are looking for a broker to rely since CW just cut them off. Their mantra is now "Indymac is out, CW is bought, banks don't want to lend money, brokers can help". Yeah I know... it's weird.
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johnnyboy38109
3057 Posts |
Posted - 07/24/2008 : 7:52:44 PM
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quote:
Originally posted by frank drigotas jr
Joel,
More compelling would be the number of those loans arranged by mortgage brokers.
I suspect most of them were written by banks, or obtained by the consumer online through a bank.
The nub of the matter is not the number of loans being written, but the 1) diminished number of brokers 2) the diminished avenues of placement for brokers, and 3) the concerted efforts of banks, the government, the states, and wall st, to squeeze out mortgage brokers entirely. That is not even factoring in the extreme dislike (polite term) of the general public for the mortgage broker nowadays.
This nonsense about "only the strong will survive" is just that...nonsense, a rallying cry for those left in a dying business.
dollar
If all of the entities you mentioned above are as inept as you always say they are, there's no way they could coordinate such an elaborate conspiracy.
There's no such conspiracy at all, they are just making necessary and harsh corrections.
Walk in my office, take a look at my pipeline.............just little old me who spends as much time as Vice-Chair of a theatre board as he does mortgages.....then you tell me its a dying business.........you're flat wrong, sir. Customarily colorful in your display of contempt, but wrong.
Its there folks, you just have to make some adjustments, thats all...........and the ones we need to make arent huge ones for the bulk of us, just little tweaks. |
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khoiey
1583 Posts |
Posted - 07/24/2008 : 7:58:25 PM
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quote:
Originally posted by AlliedFinancial
I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans. A lot of poeple are talking about loan modifications. Can I make money in this field?? Are a lot of people doing it now?
A lot of them stop doing loans as well and thinking that loan mod is the next gold rush and easy money lol. Just call it a quit and find a different field. Acorn just called me and offered a position of foreclosure advisor/organizer at $30k. Some bank just called me about an u/w position for commercial and credit cards with $55k salary. Try to look else where if you are exhausted and dried up. There are good jobs out there. |
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Dan-NewLifeLendi
286 Posts |
Posted - 07/24/2008 : 8:11:53 PM
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It's all about diversification---and that includes Loan Modifications, Debt Settlement & Credit Repair.
Dan
New Life Lending
http://www.newlifelending.us
dan@newlifelending.us
"Wholesale Loss Mitigation, Loan Modification & Debt Settlement Services in 41 states. Our programs turn your impossible loans into cold, hard cash."
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Captain Mortgage
1745 Posts |
Posted - 07/24/2008 : 8:40:02 PM
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quote:
Originally posted by frank drigotas jr
Joel,
More compelling would be the number of those loans arranged by mortgage brokers.
I suspect most of them were written by banks, or obtained by the consumer online through a bank.
The nub of the matter is not the number of loans being written, but the 1) diminished number of brokers 2) the diminished avenues of placement for brokers, and 3) the concerted efforts of banks, the government, the states, and wall st, to squeeze out mortgage brokers entirely. That is not even factoring in the extreme dislike (polite term) of the general public for the mortgage broker nowadays.
This nonsense about "only the strong will survive" is just that...nonsense, a rallying cry for those left in a dying business.
dollar
Frank, I've only been in this business for the past 6 years, and don't have nearly as much experience as many of the people on this board or in this industry. Here's my take on what's going on. For the last 8 years everyone had a refi shop going that they were running loans out of. It was an extremely profitable business and a lot of people made money. Prior to 2000 can you recall anyone ever having a refinance mortgage shop? The only Mortgage Brokers out there were doing purchases. I do agree with you that trying to sling refi's is a dying business, but there are still plenty of mortgages to have a successful company running. Just my $.02 |
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johnnyboy38109
3057 Posts |
Posted - 07/24/2008 : 8:58:07 PM
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quote:
Originally posted by Captain Mortgage
quote:
Originally posted by frank drigotas jr
Joel,
More compelling would be the number of those loans arranged by mortgage brokers.
I suspect most of them were written by banks, or obtained by the consumer online through a bank.
The nub of the matter is not the number of loans being written, but the 1) diminished number of brokers 2) the diminished avenues of placement for brokers, and 3) the concerted efforts of banks, the government, the states, and wall st, to squeeze out mortgage brokers entirely. That is not even factoring in the extreme dislike (polite term) of the general public for the mortgage broker nowadays.
This nonsense about "only the strong will survive" is just that...nonsense, a rallying cry for those left in a dying business.
dollar
Frank, I've only been in this business for the past 6 years, and don't have nearly as much experience as many of the people on this board or in this industry. Here's my take on what's going on. For the last 8 years everyone had a refi shop going that they were running loans out of. It was an extremely profitable business and a lot of people made money. Prior to 2000 can you recall anyone ever having a refinance mortgage shop? The only Mortgage Brokers out there were doing purchases. I do agree with you that trying to sling refi's is a dying business, but there are still plenty of mortgages to have a successful company running. Just my $.02
Sir, your retrospect on this shows your ignorance. You make the same mistake all short-timers do which is you assume the story begins to be written when you enter the scene, and you wrongly assess events that occurred prior. I was runnin' the absolute hell out of a refi shop in 96...........NONE of us did purchases and we were flat kickin' it dead. |
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frank drigotas j
1518 Posts |
Posted - 07/24/2008 : 9:24:57 PM
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Johnny,
You may blush, but I generally find your posts to be thought provoking. Not always, but a lot of the time.
Still, I am positive that the word "conspiracy" did not appear in my comment, so perhaps you might be the one to even consider such. Do you think there is a conspiracy to be denied?
The only other thing with which I take umbrage is the "vice chairman of a theater group" part of your retort. What the devil does that have to do with anything?
I do smile, nonetheless, as I know we all are proud of our endeavors off BO, and oft inject them as a affirmation of our individual worth.
I do stand by my statement, though. Make no mistake about that.
Oh, I once hit a bird with a baseball when I was young. I thought that was an accomplishment.
dollar
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ritabradley01
3228 Posts |
Posted - 07/24/2008 : 9:30:01 PM
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Let's get 'em!!!!
quote:
Originally posted by Captain Mortgage
Recorded sales in May 2008:
Riverside County - 3,281
San Bernardino County - 1,931
5,212 Total loans written in the month of May within a 20 minute radius of my house. I think there's still mortgages to be written out there.
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hherrm
1407 Posts |
Posted - 07/24/2008 : 9:38:31 PM
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I have a qoute on my desk from a million dollar conference I attended when I was in the insurance industry. It stuck with me through all the years. This is what it said:
You only lose when you quit |
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johnnyboy38109
3057 Posts |
Posted - 07/24/2008 : 9:39:53 PM
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quote:
Originally posted by frank drigotas jr
Johnny,
You may blush, but I generally find your posts to be thought provoking. Not always, but a lot of the time.
Still, I am positive that the word "conspiracy" did not appear in my comment, so perhaps you might be the one to even consider such. Do you think there is a conspiracy to be denied?
The only other thing with which I take umbrage is the "vice chairman of a theater group" part of your retort. What the devil does that have to do with anything?
I do smile, nonetheless, as I know we all are proud of our endeavors off BO, and oft inject them as a affirmation of our individual worth.
I do stand by my statement, though. Make no mistake about that.
Oh, I once hit a bird with a baseball when I was young.
dollar
"and 3) the concerted efforts of banks, the government, the states, and wall st, to squeeze out mortgage brokers entirely. "
is that not the definition a conspiracy.....?
my injection about time in theater is offered solely to rebut your predictabale statement about this being a "dying business".....if I can spend half my time writing grants, recruiting directors, eliminating bats, reading scripts, and avoiding fire marshals and still be profitable doing mortgages, then certainly its still a viable industry.
I am not even slightly interested in whether you find my comments on this subject or any other "thought provoking". Self-actualization permits that perspective. It would be foolish to assume otherwise.
What I do take issue with is some of the apple-cheeked here digest what you write. And it spreads negativity when it isnt either necessary or factual in basis. |
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Hustler12
1293 Posts |
Posted - 07/24/2008 : 10:37:00 PM
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quote:
Originally posted by AlliedFinancial
I'm done! I just funded my last loan. Unless I get referrals I'm not looking to do any loans. A lot of poeple are talking about loan modifications. Can I make money in this field?? Are a lot of people doing it now?
Arash - after our conversation today, this post confuses me. Please get in touch with me during the AM on Friday to clarify your position. |
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frank drigotas j
1518 Posts |
Posted - 07/25/2008 : 07:44:05 AM
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Johnny,
I take no glee in watching the posts here from those who say they are opting out of the business because it no longer sustains them. And I see the great numbers on BO who have taken another primary job and plan to "do one or two mortgages a month." And those who have gotten out altogether but come back to BO just for the heck of it.
That is not to mention the hundreds of thousands of additional LO's, AE's, UW's, traders, etc, out in the cold because of the collapse of the industry. Or do you suggest it ain't so?.
Of course none of us on BO can really know how well you might be doing. Heck, I didn't know what my neighboring brokers were actually doing through the years. I didn't care, but I always was wary of the superlatives some tossed about. I am wary of the same types here in this forum (yes, I note that you refer to your "modest" success, and I can buy into that).
But many here feign estatic happiness with their broker lot, pure bliss. I strongly suspect they are putting on a brave face. A few may just be buffoons.
You can read between their lines too, I am sure. Whether you want to continue your rah rah stance is up to you, however.
I just wish more here had paid attention to the crumbling and eroding that some of us pointed out many months back.
They would be better off.
So we have opposing views of the mortgage industry today. Mine is based upon fact.
dollar |
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mortgagemessiah
8003 Posts |
Posted - 07/25/2008 : 07:49:08 AM
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I don't know about you but I'm swamped right now.
Steve
mortgage and appraisal fraud investigating
www.mfi-miami.com |
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frank drigotas j
1518 Posts |
Posted - 07/25/2008 : 07:52:01 AM
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Ah Steve, that is because you are not originating mortgages. You are dissecting them. Plenty of work there.
I am sure you are very busy, based upon my understanding of your current work.
Regards,
dollar |
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