Comments on: Is it possible we are at the bottom? http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/ Seattle's Leading Resource for Real Estate Information Sat, 20 Mar 2010 16:58:13 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: David Losh http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334259 David Losh Tue, 10 Feb 2009 03:11:49 +0000 http://raincityguide.com/?p=4802#comment-334259 He's just a kid. Much more damage has been done by seasoned professionals. This is a very clear picture of the mortgage business. We all want to believe "It's a Wonderful Life'" or that Washington Mutual is a friend of the family. On the other hand we want our stock prices to go up. We want to see economic growth with huge profits. He’s just a kid.

Much more damage has been done by seasoned professionals. This is a very clear picture of the mortgage business.

We all want to believe “It’s a Wonderful Life’” or that Washington Mutual is a friend of the family.

On the other hand we want our stock prices to go up. We want to see economic growth with huge profits.

]]> By: Tim http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334250 Tim Tue, 10 Feb 2009 02:06:50 +0000 http://raincityguide.com/?p=4802#comment-334250 This is a good Kid? Edward, how to you reconcile that? Evidently he sure can close a deal. Unfortunately, those "deals" probably caused significant financial damage to neighbors who's values were decimated by distressed home sales that have his fingerprints all over them. I hope he spends a long time in prison. This is a good Kid? Edward, how to you reconcile that? Evidently he sure can close a deal. Unfortunately, those “deals” probably caused significant financial damage to neighbors who’s values were decimated by distressed home sales that have his fingerprints all over them.

I hope he spends a long time in prison.

]]> By: ARDELL http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334160 ARDELL Mon, 09 Feb 2009 19:19:34 +0000 http://raincityguide.com/?p=4802#comment-334160 Actually it's kind of funny when you get to the end ,and you realize it's a "resume", and he's looking for the whistle blower job. Actually it’s kind of funny when you get to the end ,and you realize it’s a “resume”, and he’s looking for the whistle blower job.

]]> By: Edward Sanchez http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334130 Edward Sanchez Mon, 09 Feb 2009 16:55:37 +0000 http://raincityguide.com/?p=4802#comment-334130 Chris is a good Kid, he is not very good with spelling and grammar but he knows his business and can close a deal. Chris is a good Kid, he is not very good with spelling and grammar but he knows his business and can close a deal.

]]> By: Rhonda Porter http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334128 Rhonda Porter Mon, 09 Feb 2009 16:41:16 +0000 http://raincityguide.com/?p=4802#comment-334128 The memo is disturbing...but this fellow is the exception not the rule with mortgage originators...he's the "Madoff" of Mortgage. The memo is disturbing…but this fellow is the exception not the rule with mortgage originators…he’s the “Madoff” of Mortgage.

]]> By: David Losh http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334094 David Losh Mon, 09 Feb 2009 04:17:47 +0000 http://raincityguide.com/?p=4802#comment-334094 Tim, thank you again for the memo. Yes, I agree that the lending portions, the Financial Markets, and credit concerns were limited in my scope of work to the interest rate, getting a thirty year fixed loan, and appropriate fees, beyond that it was between my client and the lender. Tim, thank you again for the memo.

Yes, I agree that the lending portions, the Financial Markets, and credit concerns were limited in my scope of work to the interest rate, getting a thirty year fixed loan, and appropriate fees, beyond that it was between my client and the lender.

]]> By: David Losh http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334093 David Losh Mon, 09 Feb 2009 04:10:59 +0000 http://raincityguide.com/?p=4802#comment-334093 Please read the memo again. This is a kid with no experience. People with a little more finesse are making millions of dollars working on the "crisis" we have today. The system is horribly broken. There is nothing on the table or in the stimulus package to fix the system. We are simply giving the system more cash to play with. I think it's a brave thing to give the memo more exposure. Please read the memo again. This is a kid with no experience.

People with a little more finesse are making millions of dollars working on the “crisis” we have today.

The system is horribly broken. There is nothing on the table or in the stimulus package to fix the system. We are simply giving the system more cash to play with.

I think it’s a brave thing to give the memo more exposure.

]]> By: Angie http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334089 Angie Mon, 09 Feb 2009 02:44:30 +0000 http://raincityguide.com/?p=4802#comment-334089 All that money and the guy never learned to use spellcheck? All that money and the guy never learned to use spellcheck?

]]> By: ARDELL http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334079 ARDELL Mon, 09 Feb 2009 01:27:34 +0000 http://raincityguide.com/?p=4802#comment-334079 "My sense is that the average agent out there doing their best to work in an honest manner really had no idea..." The ones that did, were being fired by their clients for not going with the flow. Remember my post in 2007 about the poor agent who thought maybe she was wrong and everyone else was right? http://www.raincityguide.com/2007/01/16/agent-fired-lender-fraud/ When the whole industry is "doing it", you have to wonder if maybe the rules changed and you are just too "old school". “My sense is that the average agent out there doing their best to work in an honest manner really had no idea…”

The ones that did, were being fired by their clients for not going with the flow. Remember my post in 2007 about the poor agent who thought maybe she was wrong and everyone else was right?

http://www.raincityguide.com/2007/01/16/agent-fired-lender-fraud/

When the whole industry is “doing it”, you have to wonder if maybe the rules changed and you are just too “old school”.

]]> By: Tim http://raincityguide.com/2009/02/07/is-it-possible-we-are-at-the-bottom/#comment-334074 Tim Mon, 09 Feb 2009 00:55:23 +0000 http://raincityguide.com/?p=4802#comment-334074 Scotman, Thanks very much. I updated the post with the link on the very top. I hope people take a moment to read it. Ardell, LMAO re: bottoms. My sense is that the average agent out there doing their best to work in an honest manner really had no idea what else was going on in the market place in terms of the financial and lending world. Loan officers knew, title and escrow knew. The lending industry was racing along at breakneck speed beneath the average agents radar. So stories like this, while agents hear about them, they really didn't have a keen understanding about the impact it would have on their market, IMHO. The amount of money racing along out there in 05, 06 and early 07 still just boggles my mind. Scotman,

Thanks very much. I updated the post with the link on the very top.

I hope people take a moment to read it.

Ardell, LMAO re: bottoms.

My sense is that the average agent out there doing their best to work in an honest manner really had no idea what else was going on in the market place in terms of the financial and lending world. Loan officers knew, title and escrow knew. The lending industry was racing along at breakneck speed beneath the average agents radar. So stories like this, while agents hear about them, they really didn’t have a keen understanding about the impact it would have on their market, IMHO. The amount of money racing along out there in 05, 06 and early 07 still just boggles my mind.

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