It's your livelihood. It's how you get about in this capitalistic culture we call America. It's your freaking job. Sometimes it's just you, sometimes it's your family. Sometimes, it's both. Regardless, I wonder if we all 'Sin' before we 'Saint'. If Money is indeed the root, I never wanted to grow into that tree.
I've got to say, Active-Rain is a remarkable place. Its very design is to motivate us who are involved in the Real Estate Industry, while educating the consumer at the same time. Heck, I like it. Before you think this is more of a tangent than a followable story, I suggest you read further. It will take me about 10 minutes and 689 Brain Cells to type my thoughts at this particular moment....on this particular occupation.
Somebody wrote an anonymous comment on a Blog I posted on another site. They said, "you sold the mortgages we are all chocking on ;-(" That Post was originally written here on Active-Rain by yours truly. I'll ignore the fact that they didn't quite get the spelling right on 'choking':-) Yet, I heard their message loud and clear. Since I can't retort there, I will here.
I don't get paid by the hour. There is no set salary for what I do. I get paid according to production. Man hours mean nothing, monetarily speaking, if your loan doesn't close. Sounds fair to me. There is a beauty to that concept...and also a disease. It's only common sense that when you are offered a dime and need a dollar, you'll take the plunge. Or is it?
If money were something we could all not worry about, I'm sure that would provide us more time to worry about things that actually mattered. However, I like to deal with reality at times. Reality says, "Money makes the world go round." Fair enough, I'd love to provide the solution to every economic woe any of us have had....but I can't. At least, not now. What I can do is offer the best version of the truth that I can.
Words probably can't do justice to make things right. The majority of the folks I've worked with have nothing but kind words. That said, I make mistakes...and I hate that human inevitability. On numerous occasions throughout my career in Real Estate, I was offered and encountered by the 'Easy Buck.' You know, quick money...fast and hurting nobody. The wise soul in me knows that fast tends to equal fleeting and typically hurts everybody. I didn't take that plunge. I have lived in an attic, I had no cable, I didn't eat for days at a time....I always thought that what I was doing mattered in the long haul. It was and is a career and not a short-cut to thinking. The ups and downs of the Market we call Real Estate is akin to the very breath we associate with life.
So, Mr. Anonymous Commenter....we can pass the blame card around all day long. Something tells me that I wasn't responsible for the stranglehold you are feeling, yet the broad paint brush that is responsible for your musings is one that was painted upon me. Don't think for one moment that the devil is resting on my shoulder, there's not even a chip there as of now. I'd rather do right and live in poverty than sell the 'sizzle' and live in temporary luxury. The Devil isn't a big fan of that.
Jason,
I guess you being a mortgage broker you are seeing a lot of changing in vendors for mortgage products? I heard yesterday that First Franklin quit doing mortgages. Do you see any new mortgage originators coming to the market place or is it too early for that?
Jason,
By all means, take it out on the person who tried to help. Unbelievable.
Apparently that commenter BOUGHT the house he/she is "chocking" on, perhaps they should have READ what they were signing, or not tried to buy a house on stated income, or not hoped for a promotion, or whatever his/her situation is.
Mortgage brokers provide a service, they don't hold a gun to people's head and force them to accept.
Stay serene..
Jason, you know we love when you ramble but not too much rambling here. Just the facts, thank you. You did not cause his problems but it hurts for him and he is lashing out. Sorry you got it but glad you had the guts to respond and did it so well.
I too, am sorry people over spent and over financed. It is what it is and I'm sorry people are losing their homes. Sad story we hear a lot in Michigan.
Keep your positive attitude Jason and we know you will help new home buyers get into a home this week and congrats to them and to you. It's not easy in this business these days.
Sardi...
Well I certainly hope it feels better now. It always sucks when someone pours blame all over just one person.
If we're going to play the blame game we all need to participate. Or not :)
Now about that devil on your shoulder...Is it a he devil or a she devil?
Ha. Ha. I made you smile :)
TLW...ROAR!
Oh...
I forgot to mention that I have only 669 brain cells left.
It you were me what would you use those cells for? :)
TLW...ROAR!
Mike - Good question! My guess is that while you will continually see a lot of people & companies getting out of the business, smart adapters who practice 'Common Sense Lending' will get back in. While time is the only teller, Real Estate will always be a Market...as long as us humans are living.
Audrey - Personal responsibility, what a concept! While I don't like the prices of gas and oil and health insurance and credit card companies charging interest upon interest, I'm pretty sure I am my only solution.
Jayne - Serene? I'll sure try. I read about one legislator who claimed that (and I'm paraphrasing)...."how do you expect a person to read through all that paperwork." Interesting...there is only so much paperwork that really means anything to the consumer. Yet, we point fingers and turn noses. If educated properly, there's only a few documents that really mean anything in any closing package. The rest is redundant stuff covering lawsuits and people's behinds. That's my opinion at least.
Lola - Coming from you, that's truly one of the highest accolades I could possibly receive. Thank you! And take it easy on those fingers:-)
Kim - Heck, you are right there. While I'm not sure how many viewed the post, the one negative got my soul a stirring....
Karen - Astute comment! I understand the lashing out, I don't get doing so at those who are offering and displaying help. At this point, the only economic equation I can help solve is their Mortgage one.
TLW - You tend to do just that:-) I don't think I ever identified what gender that Devil
wasis, but they won't be perching on my shoulder anytime soon.TLW- Foot massage for Blogging Bertha:-)
Monika - I have faith, eventually they will understand.
Jason - While I can understand the commentor's frustration, to leave that comment on one your posts was uncalled for. While it is true there where many lenders justing looking to make a fast buck, there where many more who trying provide consumers options including advice on credit repair, saving money for a down payment in order for them to qualify for a better loan program.
Unfortunately, this was not the advice many consumers wanted to listen to so many of them went down the road to the next mortgage lender who would tell them what they wanted to hear instead of what they need to know.
Jason - when people have to admit to themselves that they acted impatiently, and in doing so were dazzled by the 'ease of it all,' they want to place the blame for their bad decisions on someone else.
I deal with it all the time.
Don't sweat the petty stuff - and by all means - don't pet the sweaty stuff. :)
Hey Jason,
That one comment would have
pissedticked me off! We make decisions everyday in our business and we choose to do the right thing. We may not be rich but hey we sleep at night! :)Jason,
Did you notice the rainbow at the end? Well rainbows need two things to form,,,sun and raindrops...and raindrops need one major component to exist...stardust!!! So the rain isn't so bad after all!!! Enjoy the rain!!! Thanks, Fran
Jason.... excellent post. I have been this way from day one, when getting into the business. Well, actually my 2nd full year. My first company was a crook.... then I learned the real way of how to help people. And I have lived in the peaks in valleys. And as you stated, basically doing right, if I had to live in the valley per se. And those people that we help, will know this and remember us... hence why referrals are more important to me and my business.
Hi Jason,
Thank you for this post. Consumers demand what they want, and they will PUSH- PUSH- PUSH to get it. What happens when things don't work out the way they hoped (or were dreaming)? Many jump into the trap of BLAME- BLAME- BLAME. It is too bad someone took it out on you.
Jason,
I hate telling the clients that it is in theirs and my best interest to close the deal. I'm not here fro my health and neither are you. Sometimes I wonder what the agenda is for people trying to earn business. Just like my business...if it dies they can only blame the Realtor(R) same goes if the listing gets no activity or sells....blame the Realtor(R)....but if the loan doesn't close of course they blame you guys:) I guess that comment about how you sold the loan was harsh...you know what...no only is the LO at fault but the Realtors ,title companies and the buyers. It's not great but could be true.
People are finding out the hard way that money doesn't buy you happiness, it just lets you suffer in a better neighborhood. It's a tough lesson and someone has to be blamed since the abdication of personal responsibility and accountability has been promoted! Wasn't there a time when people actually thought for themselves and reality wasn't so independent of perception??
I wonder who sold them the house they couldn't afford? I wonder who purchased these marginal loans on the secondary market? I wonder....?
There is plenty of blame to go around...many professions played a part and we'll all suffer somewhat because of it. But rather than wallowing in the mud (and throwing some too), I decided I can only control my actions, live by the golden rule, give sound, professional advice to my clients and show my teenage son what the words "work ethic" mean. That's why I'm here. I too have seen many in my business make lots of money and yet, it is never enough. I don't drive a new car, don't live in large fancy home and I have a respectful, talented teenager that has never given us a lick of problems and a loving wife that has endured more than her share of hardships over the last 28 years. THAT is why I get up each day and live as described above. No, I am not "wealthy" as defined by our industry, but I an a huge success as defined by my family.
God bless you for taking the high road when it would have been easier and more profitable at times to take the low one.
Great Post Jason!
Sorry to say, but I'm glad to hear that underwriters are not the only ones being blamed. It's amazing to me how many borrower's wanted (and bought!) the house of their dreams and thought they could "refi" later to another teaser rate to keep it!
The key to these as I see it is to put the customer in the right loan for them regardless of how much you make or don't make... those LO's with the turn and burn idea are falling by the wayside...
D. Bass - It seems blame is a loaded gun that just being pointed the direction of the jour....
J. Anderson - Very astute comment. Thanks for your contribution. I think you nailed it......Greed. Will it be nullified, probably not.... That said, I do think a lot of us have more power than we think to try to change the mood and end the ultimate recipe for disaster = greed.
Rick - Turn & Burn ... that sense of doing things is just plain wrong. You're right, they will fall...if they already haven't.
For some reason, I can't seem to get this vision of you stuck in an attic, starving and flicking a remote (only to find that there's no signal) out of my head. It's pretty disturbing and I hope it goes away before bedtime.
Good post,
Audrey
PS--We all know the devil is in the basement, NOT the attic.
Jason - And what if the person who wrote that comment is right?
Somebody is responsible. Or is it something. Greed? So easy, too easy to blame the victim. Dumb-ass should have read fine print, asked better questions.
There is a reason so many Dumb-asses are loosing their houses.
Are you Jason to blame? Obviously not. To you this is an issue worthy of discussion. This is a topic that should be debated. Realtors (my profession) are to blame too.
Just a thought.
And if people get all defensive...well, good. Touched a nerve, huh? Sleeping good lately, enjoying the mirror?
Just a thought, not an accusation.
Audrey - At one point in time, I lived in an attic...and a basement. Those visuals were a reality at one time. Thank you for the kind words!
Douglas - If they were right, I have a feeling I'd be out of the business by now. It's very worthy of discussion....I agree with you there. I sleep well and other than my ugly mug, I am enjoying the mirror just fine:-)
Jason - at least you get to look in the mirror.
Mine keeps exploding!
Douglas - I'll leave that one alone amigo.
Kathy - Don't encourage him:-)
Kathy - It means kudos, great job, high praises, nice work, or (just call Lola:-). I think I have the same Devil as you...
Kathy - Hey, we need to take some personal responsibility. I'm not giving anybody nightmares (hehehe)
Duane - The pros and cons of what we do....