April 2007 - Blown Mortgage

April 2007

Rhonda Porter Interview

In this edition of the Blown Mortgage Podcast series we talk with Rhonda Porter of the Mortgage Porter. Rhonda was nice enough to join us and share her thoughts about the current changes in the market, ethics in lending, and what it means to be a Certified Mortgage Planning Specialist. Thank you Rhonda for joining [...]

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NAR’s David Lereah steps down

David Lereah, the Chief Economist and SVP of the National Association of Realtors is stepping down.  Lereah a complete liar housing bull has been the brunt of criticism for his very optimistic outlooks on housing.  Many people, myself included have chided the NAR for being overly optimistic in its predictions, advertising and public relations.  Lereah, [...]

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California Housing Forecast estimates that there are 2,180,000 empty houses currently for sale, 4,000,000 homes empty for rent.  Who is making the mortgage payments on these homes?  How much equity is actually in these homes?  How many mortgage payments will an investor make before slashing the price to dump the home like last-year's car model? [...]

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Why I hate my industry sometimes – part 4

Why I hate my industry sometimes - part 4. Foreclosure rescue scams are becoming a huge problem in this country.  People preying on folks about to lose their home has apparently become the latest thing for mortgage brokers out of a job.  Our local news here has done a Dateline-esque hidden camera sting (click, hit [...]

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Secured Funding Closes

Secured Funding, (I would link but their web site is mysteriously gone) an Irvine, CA-based originator of primarily second mortgages closed it's retail operations on Friday, according to a source close to the situation.  Secured Funding had ceased its wholesale operations back in January, but had maintained a small retail side as of late.  Secured [...]

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