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johnnyboy38109
2515 Posts |
 Posted - 07/24/2008 : 9:15:35 PM
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Some of us just need to stop it. Some of us here have acquired the involuntary habit of dispensing negative drivel about our industry. A gag reflex without being choked. Some people here who know far better say the banks, Feds, Congress, and green Martians have somehow gotten all their stories straight and entered into a conspiracy to divest the country of mortgage brokers. Others here whine about rates. Still others worry themselves into a frenzy over the paucity of lenders.....
Wake up, all of you!!!!!!
Some facts:
1) first off, if you're even in the industry at the moment after all thats happened, hats off to ya........
2) yes there are fewer lenders, fewer programs, more guidelines, more hamstrings (FHA 1% orig, for example), but this industry has a crazy way of evening itself out.....I used to send out 6k pieces per month........now I send out maybe 1k, because my customers keep coming back time and again......and my competition quit months ago.
3) Flagstar FHA Secure today at 6.75 paid 3.24 something in ysp..........be quiet this is a great rate with a great payout...my customer closes tomorrow and the yield on the thing is $4036..........AND he's 1 x 30 with a 587 mid............
4) Rural Housing pricing mirrors FHA with NO CREDIT SCORE req'ts and I have 2 new apps beginning at noon tomorrow
So, stop all the silly crying and screaming........rates are low, competition is less, money is available and qualified borrowers are there.........it CAN be done, so stop all this knee-jerk badmouthing and "it cant be done" talk.
Best wishes. |
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Managing Prime
2305 Posts |
Posted - 07/24/2008 : 9:18:23 PM
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| Thank You! |
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ritabradley01
2198 Posts |
Posted - 07/24/2008 : 9:26:49 PM
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| Yes!!!! Great post!!! |
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frank drigotas j
762 Posts |
Posted - 07/24/2008 : 9:29:08 PM
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The mortgage broker is DEAD.
Vice Chairmen of theater groups serve out their terms.
Watch and see if my read is correct.
Please don't get voted off Johnny. The theater group I mean.
dollar |
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windyctymktg
531 Posts |
Posted - 07/24/2008 : 9:30:38 PM
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| Great job Johnny. Gotta love those rural housing programs. It is amazing sometimes the area that are considered rural. |
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mgraham224
945 Posts |
Posted - 07/24/2008 : 9:40:00 PM
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Some parts of our industry are negative, some are positive, as it has been and always shall be.
Knowing the difference without hindsight, working towards minimizing the impact of the prior and maximizing that of the latter is the highest goal of a content and long-lived operator in this or any imperfect industry.
The sky is always falling for some and it's always "blue skies" for others. I'd prefer the chicken littles just fall into the 11 herbs and spices already and those with the that nominal combination of realism, cynicism, and optimism will continue to flourish, not any more or less than they otherwise would--for they are masters of their own destinies--but at the very least, the could do so with less annoyance from the lemmings. |
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johnnyboy38109
2515 Posts |
Posted - 07/24/2008 : 9:43:03 PM
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quote:
Originally posted by frank drigotas jr
The mortgage broker is DEAD.
Vice Chairmen of theater groups serve out their terms.
Watch and see if my read is correct.
Please don't get voted off Johnny. The theater group I mean.
dollar
If its dead, how come the only modestly talented like me are still around, wondering when your fingertips will finally slip off the ledge of reason? |
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mgraham224
945 Posts |
Posted - 07/24/2008 : 9:50:26 PM
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quote:
How Come the only modestly talented like me are still around
BO has been wondering the same thing...
(just kidding Johnny, you just left the door SO wide open, I had to!)
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hherrm
1322 Posts |
Posted - 07/24/2008 : 9:53:30 PM
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It all is what is on our mind.
If your in it only to survive, that is all what you are going to do do.
if your in it to thrive, that is what will happen.
Some here are in it to survive and some here are in it to thrive, that is the difference. |
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johnnyboy38109
2515 Posts |
Posted - 07/24/2008 : 9:53:43 PM
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quote:
Originally posted by mgraham224
quote:
How Come the only modestly talented like me are still around
BO has been wondering the same thing...
(just kidding Johnny, you just left the door SO wide open, I had to!)
...........good one.........I did hang it....... |
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datalyst
69 Posts |
Posted - 07/24/2008 : 9:56:00 PM
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quote:
Originally posted by johnnyboy38109
3) Flagstar FHA Secure today at 6.75 paid 3.24 something in ysp..........be quiet this is a great rate with a great payout...my customer closes tomorrow and the yield on the thing is $4036..........AND he's 1 x 30 with a 587 mid............
I haven't seen a rate sheet in quite a while and thought the ysp was a typo...what was par, about 6.125? |
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KHufford
5054 Posts |
Posted - 07/24/2008 : 9:57:55 PM
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Well, for once I do agree with you John.
It isnt GREAT, but there are some very good opportunities out there now, that were not there a few years ago. I rememeber when the market was nuts, prices skyrocketing right? Guess what? It sucked...bidding wars and no Realtors would even give you the time of day for their business. People would shop you over .125 of a point, it wasnt good.
I used to always get excited when negativity hit a company I worked for, or when people were fired. Drastic change and other peoples negativity always put a smile on my face and gave me excitment for me to find opportunities.
Go out there and take what is yours!
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mgraham224
945 Posts |
Posted - 07/24/2008 : 10:29:13 PM
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pond's smaller, but fish are fewer. amen Huffty Huff.
Hungry fish always feed. And the greatest thing is that just me saying that will never make hungry fish out of the ones we're getting ready to eat.
Now THAT would be a good jib jab video. Nature documentary on predatory sharks with Matt and Kyle's faces superimposed. |
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KHufford
5054 Posts |
Posted - 07/24/2008 : 10:38:35 PM
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quote:
Originally posted by mgraham224
pond's smaller, but fish are fewer. amen Huffty Huff.
Hungry fish always feed. And the greatest thing is that just me saying that will never make hungry fish out of the ones we're getting ready to eat.
Now THAT would be a good jib jab video. Nature documentary on predatory sharks with Matt and Kyle's faces superimposed.
I keep getting new nicknames from you, nice.
I like the fish/shark analogy. I guess I always like when the pressure is deflected, when everyone it doing terrible and complaining its easy for me personally to step up and take advantage..not sure if thats sharklike but...whatever!
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mgraham224
945 Posts |
Posted - 07/24/2008 : 10:44:26 PM
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We're kind hearted sharks. not a shark in the classical sense of the world. but more of a killer whale. we don't eat humans, but if we see some seals, just sitting there on the beach, not out trying to eat fish of their own, well.... You gotta do what you gotta do. We also do tricks, and entertain children in exchange for little fish from people in wet-suites.
oh crap, it must be bed-time for Matty G again... |
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downtime
227 Posts |
Posted - 07/25/2008 : 03:10:07 AM
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Thankyou for the FHA secure news
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isabella2113
276 Posts |
Posted - 07/25/2008 : 04:32:44 AM
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| Finally...a positive thread! Thank you so much for telling it like it is. I personally feel that the industry is in a much better place now...the riff-raff is gone and the true professionals are left. Time to put integrity back in our profession. |
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darkstar
15812 Posts |
Posted - 07/25/2008 : 04:47:56 AM
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Now why didn't I say that?...Oh yeah I have a MILLION times! LOL...
I like the fact Johnny's not a lead provider so he doesn't have alternative motive like I must have always have...
This business is great, has been great and will continue to be great for those that work as hard to improve themselves and their skills as they work their loans...You can't just show up, do the same thing and expect different results...
The market has been this way for a long time now, we can almost say years, if you're still not making it maybe it's time you leave it to the pros...
Great post Johnny, damn the negatrons and their loser mentalities, this is ANOTHER record year for me and I'm lovin it!... |
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Tsnyder
7853 Posts |
Posted - 07/25/2008 : 08:53:27 AM
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What John said... x2.
Tsnyder |
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ritabradley01
2198 Posts |
Posted - 07/25/2008 : 09:02:16 AM
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If you havn't done so already, it's time to roll up your sleeves and get to work.
I'm sure it was nice while it lasted but NO MORE FREEBIES. |
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