Do you think for one moment in time that perhaps you look around and the things you see are about to change?  Being on the Mortgage side of things has its ups and downs, like life, and we are in for a not so modest surprise.

I've seen the hype, I've read the blogs that layed out the reality, I've read the stuff that reports with no spin.  I live it, 5 days a week...at least.  Are we in for a change?  Darn right, it's happening before our eyes.  It's happening daily.

This post will be no different than what you've probably already read.  I'm not going to identify a Crystal Ball or Magic Wand to make it easier, in fact, the very fact it is harder now isn't a bad thing at all.  At least to me...

Around 11:30 A.M. today, I gotta phone call.  No big ordeal, but my processor and friend Brenda paged me, "Jason, you gotta a call on line 2."  Sitting at my desk, I kind of looked at the blinking red light and wondered why she just didn't transfer this person over.  Quirky, OK, I picked up line 2.

"Hello Jason, Bill Archambault here."

It may not seem like a big deal to you folks, but when I heard that, I cringed.  You see, to me, that guy is to Mortgage Lending as Babe Ruth is to baseball.  I answered firmly, quickly, somewhat astutley, and off-the-cuff.  I probably muffled my words, but I had to answer quickly...so I did.

"Hey Bill, how's it going?"

What followed was an amazing lesson in life for me.  My mentor in this business is Scott Geary and Bill just happens to be yet another reason I respect the lending game.  I was on the phone with him for at least 15 minutes, I tried to let him talk as much as I could.  I just wanted to let him talk.  I find it an honor to soak up every word and experience that man has to share.  Bill has been in this game since '69 and just got Active again.  He's licensed in all 50 states, so he is a competitor by nature with little old me.  Grrrreat!  I don't mind competing against the best though, I'd rather lose than to win competing against anybody else.

Scott Geary was the guy that helped bring me into this biz.  He has 30 years of experience himself and his personality is similiar to mine, for better or worse.  Legitly, we are friends, yet he has taught me so much.  The thing he has taught me the most is....I have so much to learn.

So, getting back to the Brunch With Bill, it's simple.  I learned very quickly from the tone I heard.  I have heard the same tone from Scott.  Folks, this isn't the implosition of the industry as much as it's back to the basics.  At times, this industry seems easy.  Those players come and go in the cycles that commonly occur.  If you are still in right now, as a professional, take heed in the fact that the consumers need the true Professionals NOW...More Than Ever.  Give me all the statistics you can garner, I'll give you a person who just wants a home and a life to call their own.  This is a cleansing.  It isn't that bad when what happens now makes things so very good again.

I want Brunch With Bill, I want Drinks With Scott, I hope I can learn as much as I can about how this industry should of been run all along from them both.

I am very lucky that Bill called me.

I am very lucky that Scott trusted my potential.

I am what I am.

They are 2 more reasons I am proud to be in this business.

They are 2 more reasons what is happening will work itself out.

You want a Crystal Ball or a Magic Wand, so do I...yet it doesn't exist.

Rest Tight, Good-Night....

All will be different and sometimes better....tomorrow morning.

 

 

27 Comments on My Brunch With Bill....

20 Most Recent Comments Displayed Show All

AUG
07
2007
102,609 Points Outside Blog

You gotta roll with the punches...they'll always be peaks n valleys...

good luck!!!

10:06pm • #8
9 Featured Posts

Jason, welcome back buddy. It's great to get a boost from our idols. Keep moving forward, even if it's baby steps and before you know it you'll be running full force again!! Take care.

10:11pm • #10
493,808 Points 75 Featured Posts Outside Blog Called Shot Master
Thank you Andrew, not sure how long I'll be back...but I'm full force every step of the way!!!
10:21pm • #11
183,731 Points 10 Featured Posts Outside Blog
So, I guess what you're saying is that magic potion and the bag of fairy dust I bought on eBay today probably won't work either?  Guess I'll just have to revert to the old fashioned way---work for it!  Great post Jason!
10:53pm • #12
738,077 Points 231 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jason... that's great. I have had the pleasure of talking to Bill a few times. One thing that you hit the nail on the head is that we will be going back to the basics of lending. In many of my comments, I have been telling people that we are going back to the mid to late 90's of financing mortgages. I can remember when subprime started to creep into the market in 1994. We were like, wow....and as time went on, lenders were more drawn to the easier guidelines with higher rates and forgot about basic lending. FHA and clients with money... and limited stated programs. 

My honest opinion is that you need to corner FHA and have a strong stated investor. I just did a 90% cash-out stated loan with a Ch. 7 BK 5 yrs ago with a 661 credit score. This is strong.....   everything else? As in FNMA DU 100% loans? They will be there, but it will be like crap shoots.

Anyhow.... I veered off course here a little.... lol  Great that you got to talk to bill.....

jeff belonger

10:57pm • #13
AUG
08
2007
970,139 Points 245 Featured Posts Localism Sponsor Outside Blog Called Shot Master
I got a trampoline we can jump up and down on in between .... no crystal balls, no fortune tellers. Just the real world. Hey there lil bro!
12:54am • #14
535,110 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jason,,

I wish I'd taken notes! I do on business calls. I simply called a friend that I though needed it.

Thank you for the kind words. Don't single me out, you've got some really good people on your side. I believe you are who you associate with. We all learn from each other, even when it appears purely social.

I got involved in AR a year ago this week, because I write about real estate, real estate investment, mortgage lending and borrowing, and sales. AR lets me be involved with people in the field. So you see we all get something out of participating. The fact that we make some friends along the way is just one of life's bonuses. You find what you're looking for.

AR is sort of like writing pen pals on postcards. AR lets us learn and lean on other's expertise. If I need FHA information I know an expert, when I talked with him I found what I excepted he's a really nice person. Another mutual friend is TLW, a lady with a great nack for making people feel good.

The only problem with calling AR people is be sure you think about the time zones. Please don't ever call me before 11am or after 2am your time.

Bill

1:46am • #16
4 Featured Posts

Jason,

So very true what you write!  I have been saying the same thing -- to my  mom, my clients, Realtors who are flipped out over how to handle their clients failing loans.  It is called a work wthic.  It goes along quite nicely with another post of yours not too long ago...that one is called integrity.  Glad you are feeling more like your normal self...

:-)  Sarah

1:52am • #17
228,891 Points 61 Featured Posts Outside Blog

Bicentennial Boy's brought his A Game!!  

You obviously aren't as easily distracted as you think.  ;o) 

3:22am • #18
558,578 Points 91 Featured Posts Outside Blog Attended Rain Camp
Does that mean you are the Barry Bonds of the lending industry?
7:02am • #19
4 Featured Posts

Jason,

You have me wanting me to learn more fron Bill as well, i'm glad you had a chance to enjoy a one on one..

Tom Weiss

7:32am • #20

LOL @ Neal.

Jason is more of the Hammerin' Hank type.... honest, polite and can hit 'em out of the park.

8:15am • #21
2 Featured Posts

Thanks for the compliment. However, everyday you play a HUGE part in how I view our jobs, our company and this industry. Thanks for being on my side! You are truely a motivating force in my professional life.

BTW, "his personality is similiar to mine, for better or worse." Worse???? I thought we were darn close to perfect???? Oh well......I'll keep working on it.

9:54am • #22
1 Featured Post
Good post Jason. In this new market we are all going back to basics. More documentation and stronger loans. I see it as a good thing. It will weed out the people who are just looking for easy money. The loan officers who work for it will persevere!
10:52am • #23
493,808 Points 75 Featured Posts Outside Blog Called Shot Master

Marlene - Lol, working for it....imagine that:-)

Jeff - William is not only a great resource, but seems like a great human being.

Sis - I like trampolines!!!

Thesa - Awwww, thank you!  Back at ya, how's your sis?:-)

Bill - I'm the one who should of taken notes.  I will keep those time frames in mind in when not to call you.  It was much appreciated though!

Sally Eubanks - Going forward, work ethic will be key.  It should always be that way.

Sarah Cooper - This was more of my B+ game, but thank you.

Neal - I wouldn't fancy myself Bonds, how about A Rod:-)

Tom - There's much to learn from Bill!

Rob - It's all in the wrists...

Scott - I'll keep working on it as well, perfection will come.........someday:-)

Michael - Well said and you are right on.

1:51pm • #24
738,077 Points 231 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Mr. William to you....  lol   He's human?  Yes, he is very human, knowledgeable and genuine.

jeff belonger

4:04pm • #25
367,616 Points 145 Featured Posts Localism Sponsor Outside Blog
Jason, I agree with your analysis.  Although it's much more interesting to talk about the freaky nature of things in the industry right now...there is much more which is still fundamentally right.  We are going through a cleansing...one that was sorely needed.
5:52pm • #27

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Jason Sardi... Your Agent for Life

Charlotte, NC

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