Let the good times roll!!!

By
Real Estate Mortgage Broker with The mortgage help you want when you need it.

Laissez les bon temps rouler! I am so glad that the good old days are finally back. I'm not minimizing the economic turmoil that many of us find ourselves in, I'm just glad it is finally business as usual.

I'm not a Realtor. I'm a mortgage guy (gal). Thankfully, I do not deal with negotiating short sales or REOs. Thankfully, I do not have to deal with sellers who think their homes are worth thousands more than they are. I might be writing a different post if I was a Realtor. I got into this business when the highest LTV available was 90% unless you qualified for a government loan, when 7.875% with 2 discount points was a great rate, when (gulp) you had to document all your income.

The longer I stayed in the mortgage business the less sense it made. It was like working on the midway at a carnival. Hucksters and rubes running the show. The lights were bright, the noise overwhelming, the lure irresistible. It gave me a headache. I always loved the mortgage business. Every loan is like a puzzle. You're given the pieces and have to put it together. It takes superior knowledge, a clear head, excellent communication skills and creativity to be a good mortgage guy. No fun house mirrors required. It stopped being fun for me several years ago. Honesty didn't matter, common sense didn't matter, knowledge didn't matter. I actually talked with other mortgages guys who told me they made all of their loans through stated income products because they didn't know how to calculate income. Lie down with dogs, wake up with fleas.

I had more respect when I sold used cars than I did the last few years as a mortgage guy. "Step on up young man. Try your hand at the real estate game. You don't know how to play?? Well never you mind, step on up and win that pretty lady you're with a prize!" No wonder no one trusted us. No wonder I felt beaten and down trodden.

What has changed? It was so gradual I almost didn't notice it. I was sitting at my desk, figuring out the income for a self employed borrower. Adding depletion, subtracting business paid expenses, recalculating depreciation. This is laissez les bon temps rouler??? YES! I finally feel like a true professional again. My expertise matters again, my hard work will be appreciated by my clients and my investors.

I am thrilled to be a mortgage professional in a time when true professionals are greatly needed. I am thrilled that the lights have dimmed, the cotton candy is gone and the bearded lady is buying up investment properties in Florida for pennies on the dollar rather than selling mortgage loans. I am thrilled that you all are here with me. Let the good times roll my friends!

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Rainmaker
216,066
Dan Cummings
Connecticutnulls Running Realtor
Raveis Real Estate

This will be my first Saturday morning in a long time without a scheduled run... I'll be pacing back and forth waiting for a home cooked breakfast!

October 17, 2008 06:51 PM
Rainmaker
156,900
Sandra Cummings
Real Estate Agent, Guilford Connecticut
William Raveis Real Estate

lol - go to Beth's house, she cooks breakfast.

October 17, 2008 07:03 PM
Ambassador
738,141
Jeff Belonger
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Social Media - Infinity Home Mortgage Company, Inc

Beth.... looking forward to it. Ask Scott to call me over the weekend... I sent him a few e-mails.  thanks

jeff belonger

October 19, 2008 08:34 AM
Rainer
178,990
Erik Hitzelberger
Louisville - Middletown Real Estate
RE/MAX Alliance - Louisville REALTOR-Luxury Homes

Beth - I found this after reading another of your posts. I like your attitude and your writing style.  This is definitely the time for professionals to shine.  Regardless of the fact that you are associated with Sardi, it is obvious that you one such professional :)

October 20, 2008 02:56 PM
Rainer
20,050
Beth Forbes
Your 24/7 loan officer
The mortgage help you want when you need it.

That's very kind Erik. Don't tell anyone but I'm the one who gave young Sardi his start in this crazy business. Thanks for stopping by!

October 20, 2008 03:32 PM
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Rainer
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Beth Forbes

Your 24/7 loan officer
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This is the place to get straight talk about the mortgage industry from your 24/7 loan officer.