This and That
Now, just a minute. Who do you think you are anyway ??
Over the years, we have enjoyed a loyal readership of our monthly newsletter, The Mortgageland Journal; in fact I will finish up the April 1st edition probably this afternoon. I also enjoy a nice group of folks, that I consider Friends of Secret! University (that's YOU), who follow my more personal thoughts and developments on this Blog.
I want to tell you who I think you are. I think you're a true industry professional looking to improve your own career, with good morals, sound ethics and admirable integrity as you engage in your activities here in the consumer residential real estate mortgage lending industry (or you wouldn't read my stuff). Further, I'm reasonably sure you and those who read our newsletter, joined my industry since August 1998 (did you catch I said MY industry?).
Given your years in the business, being raised somewhere along the timeline and the environment of the Aug.'98 to Dec.'05 cycle ... that gives you certain characteristics which differ from the people who grew in the cycle before that time - the '88 to '98 one, or those of us who entered the industry well before that (BTW, I hope you saw the September '07 newsletter, it contains one of the best pieces I feel I have written about my eye-witness account of the last 4 'corrections'). Right now, you're enjoying the initial cleansing period, a sort of punishment phase of today's cycle - late Dec.'05 to .... (my guess 10 years in length) - the harsh punishment portion of this new cycle should be over shortly, BTW.
Therefore considering your entry and exposure to both 'conforming' and 'non-conforming' loans during that period, your 'take' on the subprime niche is far more limited than say, mine. I've put some industry statistics together, along with certain empirical evidence and my own observations ... all mixed together to form the lead article in our April newsletter - Future of Subprime - be sure you read it, it will clear things up for you about that important subject.
Next ... I finished my first read of the dreaded RESPA change proposal put forth by HUD this week; you should take a look, it's fascinating to see what and how they think, and especially the extent of the studies and research they conducted to come up with this. I like it. If passed, it will be very good for your career. Any day, you'll start to read opinions from everybody about it. Over the week-end I'll give you my initial thoughts on key areas in it (after I read it again today and tomorrow).
Over the years, we have enjoyed a loyal readership of our monthly newsletter, The Mortgageland Journal; in fact I will finish up the April 1st edition probably this afternoon. I also enjoy a nice group of folks, that I consider Friends of Secret! University (that's YOU), who follow my more personal thoughts and developments on this Blog.
I want to tell you who I think you are. I think you're a true industry professional looking to improve your own career, with good morals, sound ethics and admirable integrity as you engage in your activities here in the consumer residential real estate mortgage lending industry (or you wouldn't read my stuff). Further, I'm reasonably sure you and those who read our newsletter, joined my industry since August 1998 (did you catch I said MY industry?).
Given your years in the business, being raised somewhere along the timeline and the environment of the Aug.'98 to Dec.'05 cycle ... that gives you certain characteristics which differ from the people who grew in the cycle before that time - the '88 to '98 one, or those of us who entered the industry well before that (BTW, I hope you saw the September '07 newsletter, it contains one of the best pieces I feel I have written about my eye-witness account of the last 4 'corrections'). Right now, you're enjoying the initial cleansing period, a sort of punishment phase of today's cycle - late Dec.'05 to .... (my guess 10 years in length) - the harsh punishment portion of this new cycle should be over shortly, BTW.
Therefore considering your entry and exposure to both 'conforming' and 'non-conforming' loans during that period, your 'take' on the subprime niche is far more limited than say, mine. I've put some industry statistics together, along with certain empirical evidence and my own observations ... all mixed together to form the lead article in our April newsletter - Future of Subprime - be sure you read it, it will clear things up for you about that important subject.
Next ... I finished my first read of the dreaded RESPA change proposal put forth by HUD this week; you should take a look, it's fascinating to see what and how they think, and especially the extent of the studies and research they conducted to come up with this. I like it. If passed, it will be very good for your career. Any day, you'll start to read opinions from everybody about it. Over the week-end I'll give you my initial thoughts on key areas in it (after I read it again today and tomorrow).
posted by Secret! at 4:01 AM
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