Are you kidding me? There is nothing fast or ez in this market. I won't trash the company that is offering this product because I think it's a good company, but under todays market they might want to think about changing the name of this product. Ahh I miss the days of the true fast n ez when you could reward good paying customers with convenience.

This blog has to do with customer service and our young people.

Friday night on the way home I stopped at a Subway for a sandwich, Now it was late and getting close to close. The young lady that waited on me was rude when she asked me what kind on roll I wanted I picked one and she replied "We're out of that " With total disgust in her voice like I should have known they were out of those, not only was she rude my sandwiches were hastily prepared and wrong, you might thing she was new ,absolutely not she was the manager. Now I'll get to the point. The next day I stopped for gas and I go into the cashier to buy a pack of cigars, this young man appeared to be about the same age. He was just about doing cartwheels to wait on me, What kind of cigars do you like sir, if we don't have what you like we'll be glad to order you the and brand you prefer. Which one of these people are going to succeed in business? Which person do we act like when we are busy?

We always push our loan officers to visit open houses and print up flyer's to visit the Realtor at the open house, looking to generate mortgage business. My question is: As a Realtor would you be receptive to a loan officer just popping in with maybe a snack or a bottle of water? Would this entice you to send that loan officer business?

These rates are lower than they have been in a long time and business is picking up and people are looking at houses again. We should have an early spring. I was wondering do you think this is it for rates or will they go lower? I locked a mortgage yesterday just to find rates drop today :(  I hate when that happens But my client is still closing at 1/2% less than they originally thought so they're happy. Now how do we get the price of gas down?

Yesterday I wrote about business picking up and about the fact that we had been able to close a sub-prime deal,Hooray Are we getting back to normal? Late last night I recieved an e-mail from another sub-prime lender ,It seems they will allow a debt ratio of 60% in special cases. A 60% debt ratio are you kidding me? When are these lenders going to learn? We need good service and make sense underwriting not niches.Have a great day.

What's that noise? It's the phone ringing, Business is picking up. Why is the phone ringing? After I realized I wasn't going to be able to retire on my Countrywide Stock portfolio I accepted the fact that I couldn't wait for the phone to ring I had to make it ring. We looked into other avenues, Commercial lending, Being an old finance guy I like commercial lending this is make sense lending if it makes sense and we can collect it's approved! Also how about some reverse mortgages not for everybody,but if you have a senior that qualifies it's a great product and heavily regulated so it's safe. But bottom line the phone is ringing because I am doing more to make it ring. Spending evenings dialing for dollars contacting our former borrowers and thanking them for their business along with asking them and everybody I know if they need mortgage help. The wheel is turning we are getting deals closed in under 3 weeks again. We even closed a subprime loan. I think there are a lot less players so you need to have knowledge of what you are doing and bring integrity back to this business. The remaining lenders need to police their brokers for stupidity or dis-honesty and deal with them accordingly.This is certainly an interesting business I think it's time to hang on we're going for another ride...........Now about this Countrywide Stock.........

  As you can see I am a new member and I haven't had much practice blogging. I wanted to share a song I found written on the internet reqarding the day subprime lending died :

With apologies to Don McLean and his American pie song

 

The Day the Sub prime Died:

 

A long, long time ago...
I can still remember
How that yield spread made me smile.
And I knew if I had my chance
Those mohos I could finance
And I could pay my bills for a while.

 

But February made me shiver
With every good faith I'd deliver.
Bad news on my e-mail;
I just lost one more deal.

 

I can't remember if I cried
When I saw the Fremont slide
But something touched me deep inside
The day the Subprime died.

 

So bye-bye, B\C money supply.
Sent my package to four lenders
But they all asked me why.
And good old boys were on a crack induced high Singin', "This'll be the
day the loans die, This'll be the day the loans die."

 

Did you write some B\C loans,
Did you blow bucks on the iPhone?,
Did that nut Cramer tell you so?
Do you believe in rate control,
Can FHA save your borrower's soul,
Why is underwriting today so damn slow?

 

Well, I know you'll have to cut those fees And you're wondering who has
moved your cheese.
Bernanke's on the news.
You can't afford the MBA dues.

 

I was a semi-rich middle-aged broncin' buck With a master plan and a
lot of pluck, But I knew I was out of luck The day the Subprime died.

 

So bye-bye, B\C money supply.
Sent my package to four lenders
But they all asked me why.
And good old boys were on a crack induced high Singin', "This'll be the day the loans die