My last blog, "Going Out of Business.....Everyday" raised some eyebrows and a slight bit of controversy. In fact, I had a few Account Executives from a particular lender go to the trouble of emailing me and calling me in my office confronting me on accusations that I essentially passed here to the members of ActiveRain to drive home a point. My senior partner in his ever endearing charm said, "If I was their boss I'd be jacked that they are wasting their time calling and emailing you on a blog you wrote and not out there getting business from brokers" Hmmmm. But that last blog did have a point and it wasn't to throw any company or firm under the bus. That point simply was/is that for so long we've been used to investors buying so deep that now, especially for the newer gals and guys in the field of mortgage financing, the mood is about to change and to some extent it already has. If you ask me, it is probably for the better. Another tragedy of this changing mood, other than individuals out of jobs, is borrowers who were put into programs two years ago and their adjustable rates are coming up and those programs no longer exist. But, that may be a different discussion at another time.
I wanted to pass this website onto everyone here that is tracking the Mortgage Industry and wants to know the down low on who is still in, who is out, and a lot of other information that might make you work that much harder to ensure you and your firm survives. Check it out, let me know what you think. Knowledge is Power...
The following website is not endorsed by yours truly, the late Gus Hall, First Choice Equity Group Inc, my unborn son, already embarrassed girlfriend, or anyone I know off the top of my head.
Jason: I went to your link.. interesting stuff... I'm going to read your first article... I think I missed it..No question there will be some shake outs...Just hoping it doesn't hit levels of '87 with the S&L's..