If any of my readers are interested in how we got into this financial mess we're in as a country... There's a great explanation on TV right now. The fine folks at CNBC developed this "documentary" as a part of their "American Greed" series that goes over the various lending/borrowing practices that, along with the real estate "bubble" bursting, created this economic downturn we're seeing. The show is called "House of Cards" and again, its on CNBC. Check it out, it's an eye opener. I have not been able to see the whole thing, but the piece I caught discussed the mortgage/lending/Wall St issues and it was spot on, from what I could tell.
I was a broker from 1997-1999, and from 2003-2007, during the height of the "subprime mortgage boom." I wrote a good many subprime mortgages during those years, most of which never resulted in foreclosures (in a small market, the loan officer knows when his deals blow up!). But, I did see some ridiculous loan products and some awful practices on the part of some mortgage brokers. Thankfully now with the new economy, the mortgage brokers are really thinned out, only the decent ones being able to stay in business. I am just thankful that as a respectable, ethical loan officer I was able to navigate through this mess and come out with a solid job at a reputable bank that has a reputation for making following ethical, conservative lending practices.
That's what close contact with HP and living the Steps will do for your career!
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