Don't you love it when you're dealing with a mortgage broker or banker and he gives you the "Have I got a deal for you!" speech? Obviously, there are a lot of people out there who have a tendency to embellish. I actually had one Realtor tell me that one of my competitors began his presentation to her office with, "I'm (his name) and I'm here to change the world." That's funny, I thought we were in business to provide mortgage financing to potential homeowners.

I've seen guys (and girls) give some of the most outrageous presentations and make some of the most outlandish statements you have ever heard. Of course, that is probably why our industry is assumed to be full of liers and con-men.

The great thing about this supposedly difficult market is that it is weeding out the idiots. I mean, you could pretty much be a monkey (and not a trained monkey at that) during the refinance boom through the end of the 90's and into 2002 and make a ton of money in this business. I have a friend of mine who is a corporate headhunter that says that she keeps running into clients who are former loan officers. They've been laid off and think that they should be making $300,000 in the corporate world. The problem is, they didn't know squat when they were loan officers. They were order takers who could answer the phone. Now, when it takes skill, knowledge and experience to make it in this business, they are screwed.

Anyway, I say bring on the tight market. Let the idiots die a slow death. We don't need any more order takers.