This past week in the Mortgage Industry has been a wild ride. With the closing of Home Banc, American Home Mortgage and who knows the status of CountryWide. I have been glued to watching MSNBC which seems to have the doom and gloom worsen by the hour. (even though they might be right) This morning my son who is 5 came in my room and gave me words of wisdom "Turn it off Daddy".
He made me realize how lucky I am to live in Palm Beach Gardens, Florida and have a wonderful son. How precisous these moments are and how we should cherish them. I know the truth about the market but do I really need it in my face 24/7?
What the news media has not really been on top of is the effects on unemployment from all the closing of the mortgage companies. If you go to ML-Implode (which I refuse to be that negative) the number is over 100 companies that are now out of business. Ok so its over a 100 companies but what about these people that worked for them? What about the families of its employee's?
I am very lucky for having a father that taught me from a young age the power of working for yourself. After all, who else can you really count on if you can't count on yourself?
In closing I recommend after this week in the world of Mortgage's everyone should take the advice of a 5 year old and just turn it off (for now) and enjoy a great weekend. I know I am......
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Amen, Matt!!!! :o)
Give that boy a cookie.
Yeah, sometimes you just need to tune out. Doom and Gloom can wear you down big time.
I saw that news cast last night about Countrywide...their Band C loans are the problem..I have an A loan with them but it won't effect me as long as they give me an address to mail my payment to. They cannot change my rates.
Sarah, Better yet I am taking him to his Favorite place the "Dune Dog" for a hot dog..:-)
Monika, It really got to me on Friday. For the first time in years I got a migraine
Neal, True the only thing that can happen is they change the servicing of your loan.
Awesome advise. Let's just focus on what we can control.
Thanks - good reading for a Saturday morning!
Pretty smart kid for 5! Pretty smart daddy for listening! Give him another cookie and go play some catch!
Kate, I agree packing up to head to the beach first
Lysa, He is a great kid.. I am very lucky. Funny thing is he really is not a cookie eater he loves his hot dogs though.. :-)
Hi Matt-The mouth of babes, they are so smart and kids can sometimes teach us a few things. Great post Matt and your boy gave you great advice and he is right....Turn it Off Dad! Go have some fun.... go play....
You're right, Matt. I don't even watch the news anymore because it's all doom and gloom. My business is thriving and I get referrals almost daily from people who want to work with me. I'll stay focused on the things I can affect and the rest will just happen anyway. Take care of that boy...they grow up way too fast these days.
Good idea Matt. Personally I quit watching the news about a year ago and I only get the paper on Sunday. It's all just waaaaay too depressing for me. Have a great weekend!!!
Midori, You are right. We just got back from swimming and soon off to lunch
Andrew, You never hear in the news that mortgage applications in the month of July where up 8%.. that is an amazing figure. Did we hear about that?....
Bryant, Thank you.. You do the same..:-)
Matt, excellent advice from your son. Take him to play putt-putt or something. :) Enjoy your weekend...with no news.
Stephanie, To hot for putt-putt..:-) the pool was awesome though
good post....
its strange where words of wisdom can come from... your son is very wise beyond his years.. i will use son advice. have a great weekend
Now if we could just get everyone else to turn it off.
from the mouth of babe's.
i wish there was a source where we could go back and see how many mortgage companies were added for the years 2000 to 2004 or in 2003, 2004, so we could see who the carpetbaggers were.
J.R. You are right... But he is right.. My TV is off except for the Dolphin game
Hugh, You speak the gospel
Jay, That I really don't think is the problem. The problem came from people that where not licensed as well as people just wearing to many hats.
I want to go to Dune Dog too....for some reason I want a hot dog...I know why...Bruce keeps mentioning hot dogs. ")
Have a good weekend Matt!
Matt,
I was very concerned when I started seeing the spiral start. But I started thinking. The programs that are going away really won't affect me because it was only about 5% of my business. Not good news though. Have a great wekend.
Sally, If you ever make to South Florida it would be my pleasure to bring you to the Dune Dog
Shaun, Wow so all you do 95% fannie mae or FHA.
I have only been in the market since Sept of 2005. From the time I started the rates have continued to go up. I have done No Doc,Siva,and Subprime, But mostly Conventional and recently a lot more fha.
Matthew, you're right... and as one of your previous blogs said, "Don't Worry, Be Happy"!
Matt,
Kids are so smart,your son sounds wonderful! I'm glad you took his advice and enjoyed the day with him. :)
Out of the mouths of babes.... take care of that little boy.
go Jason
make him work for it!!
There's an expression in the news business "If it bleeds it leads". The mortgage industry must be hemmoraging. I think the pedulum is just swinging back into a saner method of doing business. If you want to get a home loan you need half way decent credit and maybe a little cash. That's not too much to ask.
I have not watched the news since last November. I am a different person for doing that. I took a challenge from Ray in the DVD The Secret. What you focus on expands. So no more news! Take care of your son. The time goes by so fast. Take it from me! Enjoy the weekend. NO doom and gloom! Katerina
Rick, Thank you... I really appreciate you reading my blogs...
Suzanne, I did.. Some times it really is amazing what comes out of his mouth..
Vicki, You are so right... Thank you for commenting
David, He did just that.. In the pool, lunch, catch.......etc
Susan, You really wrote the truth. Thank you for your comment
Katerina, I agree no Doom and Gloom
Matt,
Very nice, I am sorry i'm late, concerts.. I know my kids tell me to turn it off all of the time, they also tell me to shut up :0) Kidding!!!
Talk to you later,
Tom
Tom, Kids are right Tom.. Oh I meant about the TV..:-)
It;s just an overall bad situation that was created by these crazy deals.
Neal, Very true Neal....
Fantastic way to put it Matt,
In this case there is a storm before the calm.
Or just take the lead from Elvis and shoot the darn thing! Thanks Matt and thank your son too (from the mouths of babes). "Just turn it off" that will be my new advice to buyers!
Terresa, I agree with you.. it will calm down Thank you for your comment
Donna, I agree.. I know my applications are up. It is just going back to basics..
Have you heard the latest? Supposively Countrywide doesn't have any liquid assets. They might be going into foreclosure. Can anyone verify? I have a couple accounts and they say their are wispers. Like rumors never spread so that is why I am just asking if anyone can verfy.. I like knowing the facts..=)
Hope you all are having a great Wednessday!! Keep up the hope! People still need to sell and buy homes!!
Mikey, Maybe you should re read the title.... Just kidding.. You know if it happens to tell you the truth it is out of my hands. I am very lucky that I am a broker and not a loan officer working for one lender today.