SCAMERICA
I have been in the mortgage industry since 1974. Every now and then I would go home from the office and scratch my head wondering, “What is going on?
Most of my notoriety in the industry took place between 1984 and 2004 when I was the owner of one of the first temporary employment agencies that catered to the mortgage banking world. Besides reading the Wall Street Journal and Mortgage Banking Magazines, I became obsessed with the RTC (Resolution Trust Corporation) that handled the governments Savings & Loan Bailout that took place in the late 80’s to early 90’s. We provided Loan Underwriters; Loan- Funders; Loan Processors and Loan Servicing personnel to banks, thrifts and other financial institutions. My firm, Mortgage & Financial Personnel Services earned a ranking of #191 in 1990 in Inc. magazines’ search for the top 500 of America’s fastest growing company’s.
Today in 2009, as we are less than two weeks away from an inauguration most are looking forward to. Most Americans are waiting for a leadership that promises to make a change. Yours truly is embarking into the world of “Loan Modifications.” Many of the ads I listen to over the radio airwaves and on the cable tv are promises from attorneys and “mortgage experts” are waiting to take your up front monies to perform that daunting task of contacting your loan servicer or trustee and beg them to lower your interest rate or extend your term and give you a break because times are hard.
