Jillayne characterizes CMPS as a class to teach novices how to suck equity out of homes to generate leads for financial planners.

I attended about 9 months ago, so I can speak from direct experience.

There’s lots of material, and there certainly was “sales stuff”. Everybody comes out with something different I suppose.

In my opinion, the majority of the curriculum was devoted to training LO’s in assisting investors in real estate, and understanding the issues of that market segment.

I studied hard, but had a nagging suspicion that the days of coaching novice landlords had already come to a close, now that EVERYONE is aware you can actually lose money on a home.

IE – I think she’s putting you in the cream category, and simply lamenting the efforts you have to make to distinguish yourself from the scum, FWIW.

I have not read the other posts over there, but am going off what was quoted here.

That’s just how she is. She’s doesn’t suffer fools easily. I rarely dare post over there.

IMHO, she doesn’t need controversy that her temper generates to generate traffic. Her posts are such high quality it isn’t necessary.

Here I am in the blogosphere using my real name and not something made up to hide behind…and she’s decided to call me scum?

She has her undies in a wad because I care enough about my profession that I decided to take the best course available that time to distinguish myself above other LO’s not willing to make that commitment. A small bar to pass? You might think so. However many did not and tens of thousands have done nothing to advance themselves in their profession. I see no reason to defend my choice anymore.

I do also refer to my title as a “Licensed Loan Originator” and I do include CMPS. I’ve had some mortgage bankers give me grief over that which I find amusing. Like CMPS, we have to go through more hoops to be licensed…I’ll promote both “titles/designations” proudly.

It’s not worth a response on her site. I’m done. I see no reason to enter into discussion with people who attack like that. The only quote I had in the article was that home owners should review their mortgage notes. I’m amazed at the ugliness that was generated on that blog. And I was very touched by people who “defended my honor”–many from SB.

Tanta is magnificent.

Thanks

I’ll go to work on scrubbing out the scumbucket!

Not very rewarding, financially, distracting, actually. Smelly work, gets you no friends!

It WAS curious, upon rereading, two of the quotes came from CMPS folks. Why? Reporters don’t just pick up the Yellow Pages to get a quote….(who uses them anymore?)

Both quotes were sensible, and nothing in either was loaded with impropriety.

Could not find any reference to CMPS in Geller’s stuff, nor could I find Geller in CMPS. No evidence that he is a CMPS member.

It seems CMPS has been unfairly maligned.

Before the rants, I’m just stating that nothing here indicates the CMPS representatives quoted did or said anything inappropriate. I am NOT stating that CMPS representatives have never done anything wrong, OK?

I do believe that CMPS has taken away membership priveleges in the past, and reserves the right to, in the future, for unprofessional conduct.

Should I invite them (CMPS) to the discussion?

(I have no idea of the RCG protocol, but if a friend or associate was getting trashed in a meeting, and I thought it was unfair, it might merit an invitation?

Tanta writes:
Calling someone a “bucket of scum” is hardly polite

Oh, yeah, I forgot to be polite to a scumbucket. Silly me.

We were talking upthread about the problem of reputable people (people like Rhonda) wanting to escape the taint of “mortgage broker” by adopting some fancy new title. I pointed out that the scum just adopt the new title, too. I was asked, basically, what the alternative is.

My alternative is to call a scumbucket a scumbucket. In other words, if I am “polite” to Geller, then I’ll use the same terms to describe him that I would use to describe Rhonda Porter. That forces Rhonda to try to find a new title, and the cycle rinses and repeats.

How about Rhonda (and Morgan and Jillayne and all our decent friends on the front end) just stick with being loan originators or RE agents of some sort and we scrape up the guts to call out the scumbuckets for what they are?

Perhaps we could reclaim our profession instead of trying rhetorically to escape its taint? Just askin’.
Tanta | 03.21.08 – 9:08 am | #

http://calculatedrisk.blogspot.com/2008/03/nyt-journalistic-malpractice-again.html

This is a core problem in lending AND financial services.

There are some great solutions out there, that are frequently misapplied, that benefit the seller of the solution, but often, not the buyer.

We never get to see the articles about borrowers and investors that are happy, and wealthier, from the use of more sophisticated loan and investment products, only the clueless and the ill-informed opportunists.

There is not much of a story in dog bites postman. Unless, I spose, the mailman gets a $50M settlement….

Finally, Rhonda, you know you’ve hit something when folks are ASKING you to write!

Thanks for being a good sport.