Dear Mortgage Industry,

Mortgage and Lending with New American Mortgage

Dear Mortgage IndustryDear Mortgage Industry,

Wow. We have been together for near 14 years now. We have been a part of each other's lives longer than I have been a father and longer than I have been a husband. I remember the day my buddy introduced us. I had tried a few sales jobs and was looking for a business that would pay me for what I did. Sales seemed to be it. I was nine months into car sales and had just started getting some traction when my best friend called. He had been a mortgage broker for a few months and said "Brian, given the commitment you bring and the ethic you have, you and this business are going to be great together." He was right.

We started our relationship around July 1997. In 1998, I got married and my wife (who you'll remember also worked with you for many years) and I enjoyed our first home and a move-up we purchased a few years later. Our relationship had been win-win for years. I worked hard and with integrity to offer people the best of you, and you helped me provide for my growing family. In you I had found my desire to get paid my value. Then we went to crap.

While your troubles began earnestly in 2007, mine started two years earlier. Confirming popular wisdom, going into business with my best friend was not a good idea. In 2005, my five year old mortgage company was closed when my business partner, and friend of 20 years, left us after mangling the company's finances. You and I had worked together to build something that would take care of me and my family. Unfortunately, and unfairly to you, this is when my faith in us began to be tested.

I really want to make this workFor the last several years, it really feels like we've missed each other. I was still hurting from the loss of my business, and of my lifelong friend, for several years which helps explain the disconnect for a while. I worked for a big bank for 2 years right in the middle of your most trying times. Amazingly, given the extremely difficult processes they had, my new teammate and I closed over $33,000,000 in 2009. Yet you were now hanging on for dear life yourself. Despite fantastic volume, my income was less than half what it used to be and working with you during this time was not worth the pain of feeling like you were against us every bit of the way.

Please know I do not blame you for all, or really any, of the financial struggles I have had since trying to make this work between us. I could have moved on at anytime, yet I still believe in us. I know the abuse by many of the people you worked with, and trusted, and supported caused you to harden and change. The changes that you have had to weather to get through this time have made it much harder for those of us that still believe in you. Together we have supported and honored each other's hard work and integrity, yet for years, IT hasn't been there. You know, IT; the feeling that we're going to be okay. While I remain determined and believe that together we can support my family, we haven't for a long time.

Mortgage business, we both know things needed to change. You had been a haven for those of little you can have this backintegrity, and you were mutated into a cash cow, a free ride. To me, you were never these things. Together, you and I help people with the largest purchase most of them will ever make. After assisting thousands of people, I am still honored to be given the opportunity to introduce someone to you and guide them through the process of buying a home. It is May 16th, 2011, and I am happy to say that I have found a company that believes you can be just as good as you used to. They believe that it doesn't take 30 to 45 days of pure hell to close a loan. They believe a loan should be turned down quickly (novel concept!), yet never indiscriminately. And they remember that when everything is said and done, we serve the agents and their clients. If you and I can make it work anywhere, we can make it work here.

This is not a fling. You are my career. I did not think of us this way when we started but that is where we are now. I hope my relationship with you lasts forever, and I look forward to celebrating our 40th anniversary together (do you remember the date?).  I am willing to continue to give you the best of me to make this happen. If, however, our relationship doesn't last that long, please know I gave it my best shot and that I appreciate you very much. If you see me glance at other careers, like pharmaceuticals or teaching or engineering, please know that you are my first love, and that you are where I want to be.

But I can't wait on us forever.Love Brian

Comments (1)

John Saari
Worcester, MA
"The Mortgage Buddy"

This is awesome Brian. This letter touches home for all of us. We have to stay faithful, we will be rewarded.

May 20, 2011 09:49 AM