Wes's Blog

The Power of Positive Energy

2007-11-13T16:28:06Z

The Power of Positive Energy

This past weekend, in the midst of full-blown personal funk, I did something that I should have done a long, long, l-o-n-g-g-g-g time ago. I rediscovered myself, and completely changed my way of thinking, feeling, and living. For the longest time, since well before the whole mortgage and real estate market down-turn, I had been drowning in negativity. Grated, I was still able to put forth a happy, confident face for others to see, because to do otherwise can ruin one professionally. But in my solitary time, most of which I forced upon myself, I was unhappy. Nothing seemed to go my way, and when things did work in my favor, it took an excruciatingly long time to come to fruition. And even after I had accomplished the thing I wanted to do or have, I was still picking things apart and tearing down scenarios to see where I missed anything. There is value in analysing a situation after it has passed so that you can perform better the next time, but what I was doing was piling despair and negativity on top of what should have been a good experience. Needles to say (but I'll say it anyway), my relationships were tattered, I was working myself to the bone with little or nothing to show for it, and I was feeling just plain awful. I know that I am not alone in this self-experience, but for those people reading this who might still be caught in the throes of despair, anxiety, or worry, I have this to say:

Things will get better, and you will succeed.

Since Saturday, when I started reading an amazing book, The Secret, by Rhonda Byrne (and other contributors), I began to reconnect with myself and the world around me in such a positive way that I have not known for quite some time, if ever. I look at life differently now, look for the good in situations and people, and take time to appreciate and enjoy the world and my life. I cast all of my former worries and fears behind me, and became determined to exist only in a positive, energetic frame of mind. I began following the tenets of what the book had to teach me, and I have been focusing on being the best person I can be. All of the problems, real or imagined, that had been plaguing me, I put away for good, firm in my belief that these things are only temporary and will work themselves out. A lot more quickly, quietly, and favorably if I just cease my interference through projecting negativity energy on the situiation. I turned my energies and my focus, instead, on rebuilding myself and my world, not one piece by little piece, but en masse. My health, my relationships, my career, my finances, even my sleep habits, all of it, I scooped up into one giant package and said, "This is fixed, right here and now." And do you know what? It worked.

It may only be three or four days since I began my regimen of positive thinking and living my life according to the foundations and lessons portrayed in that wonderful book, but I am here to attest to some pretty amazing results that I have experienced in this brief time. For one, my health is greatly improved- I kicked a bad cold that had been nagging and hanging on for over a week, and my migraines, which were devastating and near-crippling in proportion, are gone! My relationship with my wife are so much better (and maybe it's this infectious smile and attitude I am sporting these days), and we are the happiest that we have been for some time. My job is fun again, and the prospects just keep pouring out of the woods. I have 2 loans that are closing soon, and my other clients are moving in the same direction. My financial concerns are turning around, and I am contemplating purchases for personal comforts that I would never have even considered even a week ago. The business expansion and ventures that I embarked upon, in an effort to help my company adapt to tough markets and lean times, are gelling and showing excellent vitality. My network has grown enormously this week, and I have limitless opportunities flowing my way. Like that song from the eighties says, 'The future's so bright, I gotta wear shades.'

I could gush like this for hours, even days, but you can see what I mean. All it took to turn my life around was some inspiration from a book that I had never previously read (but certainly criticised as bunk and hyped-up marketing by crafty publishers), a book whose message is clear, simple, and undeniably true. The world is what we make of it, and there is POWER in each of us to do so many amazing things. Buddha said, "All that we are is the result of what we have thought," and I know the depth and wisdom contained in that quote. I was mired in negativity until I was drowning in a dark mindset, but now I have nothing but energy and wonderful things happening in my life. And I didn't have to pay for a therapist, prescription medications, or drinks at the local watering hole to feel this way. It is all coming from within, and I have never felt more alive and healthy.

I can only hope good things come to those who read this, and I truly wish those things for my colleagues, known and unknown. If you take nothing else away from this bit of scribble, let it be that you do have a way to set things right and turn your fortunes around. The key is You. You just have to redefine yourself, find your positive energy, and start broadcasting that energy to the world around you. Do that, and watch the amazing things that will start to happen in your life. Experience it once, and you will never want it to end.

I wish the best for all of the folks on this wonderful site, and if I can ever be of any help to anyone, please send me an email or give me a call. I always have time to talk and to lend a hand. May peace and prosperity come to you and yours.

Wes Guptill-

Mortgage Doomsday Bill Still Open in the House

2007-11-06T14:34:07Z

As of 2:45 p.m., according to the U.S. House of Representatives website, http://www.house.gov/, the troublesome House Resolution 3915 is still open. The bill has yet to come before open-floor discussion and voting. Oddly though, a number of other resolutions with little wide-spread impact were discussed. Among these was a resolution to discuss and agree to congratulate the Red Sox on their 2007 World Series victory. Even if the Mortgage Reform Bill were not on the agenda, I would still have to question why our legislators are expending time and resources to discuss congratulating a professional sports team on their championship victory (although I think the Boys from Beantown do deserve a nod from our nation's capitol), when they could have just placed one huge conference call and dispensed with the kudos right then and there.

But I digress....

This bill is still lurking under the radar, and Barney Frank is piloting this submarine, with all the torpedo tubes ready to launch. He has managed to swing (through contrivance and verbal sleight-of-hand, I'm sure) the endorsemnets of two notable Republican representatives in an effort to push this bill through The House. I'm fairly certain, as I have been tracking the bill's discussion and disposition all day, that Mr. Frannk and his crew have also steered the bill away from early discussions in the hope that some of the Representatives will leave the session to attend to election matters, grab dinner, or take care of other business pertinent to their home jurisdiction. The heightened absences would give Frank leverage in passing the bill through a suspension of rules and a garnered quick vote on the matter. From that point, the bill would head to a Senate occupied by a large contingent of Democrats who have seen their own popularities fading and who are desperate to look as if they have the nation's better interests at heart and in hand. Unfortunately, these Senators may not see or know the full ramifications of passing such a bill. And even if they did, they would probably pass the bill because they think that something has to be done to quell the damage already done. They would remain ignorant of the fact that this is ban-aid-on-a-bullet-wound approach to a problem that would most likely make the bullet wound turn gangrenous.

Please, if you have an opportunity, go the House website at http://clerk.house.gov/floorsummary/floor.html and check the status of the bill in session. If the bill does not reach the floor, please continue to write, petition, and telephone your national representatives and let them know this bill, as it stands, is nightmarish for the consumer, the markets, and hundredes of thousands of workers. And even if it does pass, we still may have a shot at stopping it in the Senate. Just keep shouting!

Doing Your Credit Report Homework Can Make You Look Like a Hero

2007-11-05T12:23:16Z

How often do you pull a credit report for a prospective homebuyer only to find a rat's nest of bad debt and collection reports? And how often do tension headaches grow out of that revelation? Well, before you reach for the extra-strength headache pills, take a harder, second look at your client's credit report. Chances are that what you're seeing is not as bad as it would seem.

In its latest November issue (November 12,2007), BusinessWeek magazine ran an extensive article covering recent findings that indicate some questionable credit reporting practices by creditors and reporting bureaus. Most of the reporting practices involve people that have previously filed for bankruptcy protection, either under Chapter 7 or Chapter 13 rulings. Under these rules, debtors following the prescribed courses of action set forth by the Federal Bankruptcy courts are supposed to be legally relieved of these debts, and a notation for associated credit accounts is supposed to be entered into the credit file for those individuals. Unfortunately, that is not happening in every case. And this is happening at an alarming rate.

Currently, there are several lawsuits pending against creditors and at least two of the major credit reporting bureaus (Equifax and TransUnion, specifically) for failing to accurately report ‘discharged' debts that were included in bankruptcy court proceedings. The responses from the alleged defendants in these cases range from denial to those of a more cavalier nature- something akin to ‘Well, it happens all the time.'

The impact of this behavior has been shaded from public scrutiny, but it is, nonetheless, a very real problem for quite a few people. In my personal experience, I have had three clients whose credit files were inaccurate and remained unrevised for at least twelve months after their bankruptcy cases were finally discharged. The BusinessWeek article cites one case in which a North Carolina man seeking a home mortgage loan was pressured into paying more than $9500 to Capital One on a credit card debt that was included as part of bankruptcy case that was concluded and discharged in 2002, more than a year prior to his applying for his home loan. Facing a denial of his loan if he did not pay the $9523 to the creditor, the man paid, but not without incurring an enormous setback in his cash reserve. Since then, the consumer has filed a lawsuit against Capital One and recouped his money and the filing fees, but Capital One received nothing more than cursory punitive measures. This practice is not limited solely to bankruptcy filers, but they are the most targeted victims of these practices. And, despite several instances of litigation, there have been no alterations to the corporate practices followed by the company. There will likely be no changes forthcoming until sweeping mandates are handed down by government agencies or until major victories by consumers are registered in the court system.

Until creditors and the reporting bureaus are reined in, the responsibility of ensuring that consumer credit reports are accurate falls squarely on two parties: The consumer and the mortgage professional representing them. Consumers can and should check their credit reports on a regular basis, with the accepted advice being that such inquiries be made twice annually (although some experts indicate that a quarterly examination might not be a bad idea). However, as the average consumer can be overwhelmed by the ins and outs of a credit report and may not know how to take corrective measures, the task should be undertaken by a financial professional. This professional can come with any title, but this individual should demonstrate knowledge and experience relating to credit reporting practices and the legal techniques involved in correcting inaccurate or erroneous information. A mortgage professional is the most likely candidate for this job, as it is he or she that will most often encounter or discover errors that exist.

When as a loan originator or officer reveals a discrepancy or probable case of misreporting, you should investigate the matter thoroughly and not assume the worst of your client. Ask questions and engage your professional wisdom; more often than not, you will know when your client is ‘fudging' the truth or when the client is being honest in reporting that there is in fact an error. Should you discover that there is an error on the credit report, gather the information pertinent to the discrepancy and take immediate action. This may involve contacting the creditor, or, in the case of a prior discharged bankruptcy case, the attorney who handled the client's bankruptcy. After assembling all of the facts in the matter, you may be required to have your client prepare a statement for both the creditor and credit reporting bureaus indicating the nature of the inaccuracy. A helpful resource in cases such as these would be the credit rescoring department maintained by nearly all credit-pulling companies through which we obtain our credit reports. These departments can take a second analytical look at the credit file, and combined with the information you and the client provide can chart a course for quick resolution to the problem. Employing credit-management software will show just how much a client stands to gain by this measure. The results of a simulation using this type of program can be astounding. A recent client of mine benefited by having nearly eighty points added to their credit report. It was a significant difference that took the client from a subprime, high interest loan up to a preferred program with a sharply contrasting interest rate and term.

Doing the homework on a credit report can cause dramatic changes for the good, and you will not only look like a hero to the client, you will have gained a long-term client, who just might be ‘referral-rich'. And, if nothing else, you will have demonstrated the truest facet of due diligence, which is get the facts and act accordingly on those facts. Personally, there is an intangible reward for doing the right thing, even if it is nothing more than being able to sleep soundly through the night.

Whatever happened to cleaning up your own mess?

2007-11-05T09:34:25Z

Throughout my life, I have been taught that ethics and honor were the key ingredients for becoming one of the ‘good guys'. History lessons, splashed with glorification, told me that under fire, the only noble thing to do is to stand and defend your position. Even in the face of sure defeat and annihilation, the brave hearts stay at their posts until they are captured or become casualties. The defenders of the Alamo, the unfortunates ravaged by the pre-dawn attack on Pear Harbor, and certainly hundreds of revolutionaries in dozens of battles during the American Revolution all had this in common: They hung on and battled to their last breath. It was how things were done, how honor was served.

But what happened to that sentiment? Where is the honor these days? I'm not talking about the honor among our military forces fighting a war that is questionable in design and motive- as a former member of the United States Navy, I have nothing but unending respect and admiration for those that serve honorably and selflessly to defend those that cannot defend themselves. Neither am I talking about the decent politicians (and I know that they are a vanishing breed) who go against partisan lines to decry foul against others who serve the American constituency in a manner that is clearly self-serving. No, I am talking about the people who are supposed to guide our national economic platform as it is housed: The Corporate Heads.

In my career, I have admired many high-profile figures that command stations in the financial world and who drive global economies. I admired them for their bullish approach to business and their nerve in going against the grain. The heads of such companies like WorldCom and Citigroup and Merrill Lynch were to me the icons of what can be achieved with hard work, determination, and intelligence. I tried to pattern myself after some of these men and women, hoping to emulate their spirits and their successes.

Sadly though, the last few months that I have spent watching the tattering and fragmenting of the lending and trade industries ion this country have delivered to me a sobering fact that leaves me looking for an idol that probably doesn't exist. Within the past few months, figures like Stan O'Neal (Merrill Lynch), Charles Prince, III (Citigroup), and Peter Wuffli (UBS) have all left their posts as the heads of major banking and financial corporations. True, some were shown the exit doors, but each of these people left their companies with a pocketful of cash, stocks, options, and other perks (O'Neal gets an company-paid office and executive assistant for several years, though just why he needs it is a mystery, as he has been utterly ousted.). And the appalling thing that I have witnessed is that none of these people have stopped to say, "Hey, I helped make this mess. I am staying around to help clean things up." That would be the honorable thing to do, rather than just scooping up the proceeds from some backroom deal and slinking away like a fox from the plundered henhouse.

This lack of ethics and honor has far-reaching impact upon our nation. The average, hard-working folks of this country see big corporations that control their money and their homes as untrustworthy, which in turn represents a lack in consumer confidence. It also creates a wider gap between socio-economic classes that runs against the equality philosophy that has been the foundation of our country's principles for two centuries. Factor in the political elbow-rubbing, and suddenly the common citizen can see nothing but corruption pouring out of the doors and windows of the gleaming towers of the financial and political communities. If that is not a recipe for economic and social disaster, I don't know what is.

I am at a loss as to how things can be fixed, econommically, in this country. I am sure that the waters are going to get rougher before they calm down, and more losses for the American public are lurking beneath the surface of the next ready-to-implode hedge fund. That being said, I feel that it is about time that the ones primarily responsible for this mess (on the Corporate throne level) should step up and take responsibility. And responsibility means not only owning up, but ponying up and cleaning up the mess that they helped create. Congress wants to shackle the mortgage brokers with unreasonable and questionable tactics, but let's see the same treatment for the suited ne'er-do-wells from Wall Street. If they won't clean up their own mess willingly, then maybe Uncle Sam should make them. And if Congress does step in, let us all hope that they don't let the trouble-makers make off with what can only be called ill-gotten gains. Or is that the message that we send our children, that it's okay to behave criminally, just look good and smile while you're doing it. And never mind the mess, somebody else will take care of it.