Over the last nearly four years the real estate and lending industry have undergone sweeping changes and those of us in these industries are keenly aware of the changes made by lawmakers that have impacted us and our clients - mostly in negative ways. What most of us don't know are the details behind the curtain that lead to where we are now.
I recently watched a great documentary - "Inside Job" - which spells out the inner workings behind the scenes of the credit crisis and the financial debacle that let to huge bailouts. I am in the middle of reading "The Big Short" which is a book written by the author who wrote "The Blind Side." This book provides more insight into other parts of the mortgage meltdown.
I've always been interested in the financial markets and was Series 7 licensed for Fidelity investments and have developed spreadsheets to analyze stocks and, more pertinently, I use my knowledge to analyzed the mortgage bond markets to help know when the best time to lock a rate for my client. It's this background that probably provided an extra attraction to the movie and book along with the fact that since I am deeply affected by what has happened and what continues to happen. I highly recommend watching the movie (you can get it from Netflix) and reading the book - you will have a much more clear perspective of how we got to where we are and who to trust and who not to.
So...who's seen the movie or read the book? What are your thoughts and opinions on them? I'd love to know. Please share.