Man Found Frozen In South St. Louis

By
Mortgage and Lending with Bank of England (NMLS#418481) NMLS# 1046286

A few days ago I wrote a post where I asked if people thought that the media plays a story straight.  The over whelming response was, "No, the media does not play it straight with the public."

Frankly, I wasn't surprised.  I had seen a perfect example of how the media plays things when my father passedThings freeze when left out when it's below zero away 21 years ago.  I found out that he had died when the local NBC affiliate led their local evening news broadcast with the teaser, "Man Found Frozen in South St. Louis".

Having just sat down to watch the news, I waited while they broke for a commercial break.  When they came on they had a picture of a bus that my father had converted into a camper.  The camper was parked behind my grandmother's home and my father was staying in the camper while he attended classes at a local community college where he had enrolled to complete prerequisites for mortician's school.

Needless to say, I was devastated to hear that my father had passed, more so that he had "frozen" to death.  Well, as you can probably guess, he hadn't frozen to death.  He had suffered a severe heart attack and had knocked over the kerosene heater that served to heat the camper.  The safety switch turned the heater off and being that it was below zero degrees that night, my father then froze.

I guess that a guy dieing and then freezing doesn't grab your attention as much as a person freezing to death and if you think about it, Channel 5 was TECHNICALLY correct.  A man was indeed found frozen in South St. Louis.  Either way, my father was still dead, but my point here is that the news media ran with the sensational rather than the more mundane facts of the matter.

And that's part of what they are doing with the sub-prime mortgage mess.  It's a much more interesting story to hear when the story has a readily identifiable villain.  In this case the "villain" is the evil mortgage broker!  Forget the fact that over 1/2 of all US consumers have chosen to utilize the services of a mortgage broker and have now for years or the fact that the mortgage brokers didn't invent, underwrite or fund these programs.  That's just not sexy enough!

Evil Mortgage broker!Who wants to hear about greedy Wall Street types who have padded their pockets at the expense of the general public?  That's old news!  It's much more "newsworthy" to show Snidely Whiplash foreclosing on some little old lady!

From my point of view, things obviously haven't changed much in the news business.  If it bleeds, it leads!  No one's going to take the time or effort to examine bills such as HR3915 and make sure that our law makers do the right thing when it comes to regulating mortgage origination, underwriting and funding.  Just remember this when you sit down to watch the news tonight!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

 

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Rainer
76,974
Chuck Christensen
Your Financial Coach - Bellingham, WA
My big question is "Why does the government need to monitor mortgage people?" Why can't the industry do it themselves and why do we always want the government to do everything for us and then we complain about paying more taxes...D-uh! If you want better food and better service, then you don't go to McDonalds and give them a 25% tip for letting you drive thru!
Nov 20, 2007 09:03 AM #1
Rainmaker
1,180,533
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City
I ran for a little community office about 30 years ago. I could not believe the reports on me, my wife and my children that were fabricated to promote my opponent. Don't believe what you hear about someone running for public office. Reading public commentary doesn't cut it.
Nov 20, 2007 09:47 AM #2
Rainmaker
1,142,325
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Bob what a horrible story!! This must have been devastating for you. My goodness......I don't even know what to say.
Nov 20, 2007 10:26 AM #3
Rainer
83,422
Rey Gallegos
Supreme Lending (NMLS ID #2129) - Las Vegas, NV
FHA, VA, Home Loans Las Vegas, NV
Bob, This is so true!  If it doesn't sell papers, magazines or clicks they SPIN it into something that does.  This headline would never make on the front page "Economy is stable, people are paying their bills, America is Content!"
Nov 21, 2007 02:52 AM #4
Rainer
155,621
R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
Bank of England (NMLS#418481) - Raleigh, NC
Bob Mitchell (NMLS#1046286)

Chuck:  I'll argue with you about why the government does need to regulate the mortgage industry.  There are simply too many ways that mortgage originators (notice I didn't say mortgage brokers) can screw somebody if left to their own accords.  I'm a BIG fan of making loan originators disclose and then stick to their disclosures.  

I'm also a big fan of experience and education requirements for loan originators.  Our industry has already proven that if you can fog up a mirror when you breathe on it that you can get a job as a mortgage originator and that is simply a recipe for disaster!  

What I'm not in favor of is a half baked law (HR3915 has got to be one of the most incomplete laws ever written!) that only goes to raise the cost of production for mortgage brokers in order to help banks look more competitive.  

Dave:  That's a wild story...you should write a blog about your experiences!

Bryant:  Thanks for your sentiment!  It was a long time ago and my father was quite the character and would have relished getting the headline!

Rey:  You are soooo right! Thanks for the comment!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

Nov 21, 2007 04:04 AM #5
Rainer
4,219
Gerri Weits, PA
Commercial Realty Team - North Palm Beach, FL

Bob,

Sad, very sad.  Both your father's demise and the MSM.  I love the "crow" - great description!

Want to know who really disgusts me beside geedub is that jerk O'Reilly.  I'd love to know whose pocket he's into!

Great post!  You're an excellent writer, and I really enjoy your topics. 

Giddy up!

In liberty,

Gerri

Jul 23, 2008 09:06 AM #6
Rainer
155,621
R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
Bank of England (NMLS#418481) - Raleigh, NC
Bob Mitchell (NMLS#1046286)

Thanks Gerri:  O'Reilly and Limbaugh both have agendas, which I believe are to make themselves rich.  They're obviously doing something right in that tons of folks seem to identify with them....doesn't make them right, but it does put money into their pockets!  Thanks for the comment.

 

Bob Mitchell

ValueList Real Estate Services, Inc.

Jul 24, 2008 04:17 AM #7
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R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

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