A story in the Denver Post yesterday related how a ex-mortgage company owner is heading toward a new career...in loan fraud prevention.
Michael Richardson's company went down the tubes when 5 of his employees got caught falsifying loan-apps, Social Security numbers, driver's licenses, pay stubs, yaddy yaddy. He fired them immediately, but not soon enough to save his company.
Loan fraud is rampant in Colorado. What is amazing out of 337 claims to FHA, of those 1/4th came from 4 mortgage companies.
The mortgage business needs to be cleaned up. Perhaps Mr. Richardson is the one to do it.
From losing his life's work to becoming an activist against what took it away. That's what I call turning Lemons into Lemonade.