Florida Mortgage : Learning Center

As Thanksgiving nears I want to take this opportunity to give special thanks to all of my repeat clients and there continued trust in our Florida mortgage company.  I have served Florida homeowners and home owners-to-be for over 12 years and truly appreciate my ever growing satisfied family.

I owe our success to the team of professionals in the Florida mortgage industry who continue to impress upon new home buyers the importance of upfront disclosure and integrity.  Our aim is to ensure Florida homeowners know their mortgage options when seeking new home financing or refinancing.  And that they receive these mortgage loan programs without having to pay additional unnecessary costs.

Have a great Thanksgiving week to all of you and your families and be safe.  Of course if you come across any mortgage related questions please contact me anytime.

The party is over for those who came into this mortgage world and figured they could make “easy” money as mortgage lenders.  Making money (way too much money) by closing a loan became more important for many in the mortgage business; than the home buyers best interests when purchasing their first home.  But rest assured knowing that the mortgage professionals that have remained in business today are truly the accomplished and respected people in the mortgage lending arena.

As large banks and mortgage lenders are closing up for good; a few of us mortgage professionals are discussing teaming up to form larger entities that will enhance greater delivery of mortgage lending principles to more homeowners or new homebuyers across the country.   We know whats right and we should share our knowledge with as many consumers as possible. 

Paying no dosicount points and no origination fees; ensuring that the original Good Faith Estimate is what you will enjoy at closing; and of course, ensuring that every mortgage seeker knows their advantages as well as disadvantages regarding specific mortgage loan programs.

There is no secret to success in this mortgage industry; however, I believe that experience and integrity will truly outweigh the irresponsible mortgage misers who, for the most part, have left the mortgage lending industry already.

Well foreclosures have already reached over 2 million and Florida seems to be one of the top ten states leading the way.  The House Financial  Services Committee is making amendments to H.R. Bill 3915; which makes mortgage originators in Florida, and every other state, accountable; finally.  However, I believe this to be a little too late. 

The rogue mortgage brokers and originators that have dishonored our profession, have all but left the mortgage industry.  They have suddenly realized that calculating debt ratios, and actually determining which mortgage program best suits the consumer; is much harder than they thought.  No.  They’ve decided to take the money they have practically stolen from consumers and completely leave the mortgage industry.

The only mortgage professionals left, are just that; Mortgage Professionals.  Ones who dedicate their lives to assisting each and every American in financing the home of their dreams.  And doing so with upfront disclosure and integrity.

So with a war going on our congressmen have decided to jump into creating laws that will enable capturing rogue mortgage originators.  If we are going to focus so much attention to this then why are we not going after the bad guys who created all this mess in the mortgage arena?  Let’s show some respect to the Mortgage Professionals who are still in the business and continue to provide sound mortgage advice to their clientele and new home buyers.

Karen and I took the kids out last night for the premier of Jerry Seinfeld’s Bee Movie.  Great movie for all ages by the way.  The story involves learning what happens when you remove bees from their purpose in the work environment. You see, bees, while making their honey, distribute pollen to flowering plants; and without bees performing their jobs, flowering plants everywhere begin to die.  And everyone is affected somehow. 

I drew an immediate comparison with the crises in the current mortgage industry regarding mortgage brokers, correspondent lenders and wholesale lenders. There is a Bill to be voted on next Tuesday in Washington that would practically eliminate the mortgage broker, corrspondent lenders and wholesale lenders.  It seems our politicians are only viewing the bad apples in the mortgage industry, assuming that all mortgage professionals are tainted, and treating us all the same.

If this Bill passes hundreds of thousands of Americans will lose their mortgage related jobs. You just can’t rub out the entire mortgage loan industry.  Not even the main character of the Bee Movie knew the affect of allowing the bee industry to completely stop working.  I hope our politicians in Washington weigh out the consequences, and more specifically, focus on the crooks in the mortgage industry, not the good guys.