So apparently Citigroup is taking over ACC, Ameriquest's parent company, in order to take its servicing portfolio only. The retail origination arm, including the Ameriquest brand is not part of the deal.  Some of my sources have reported that once the deal goes through the origination arm and Ameriquest will be divested.  This would mark the end of the rapid fall for … [Read more...] about Ameriquest Citigroup Update

It's easy as a financial professional to get caught up in the need to do something edgy or 'out-of-the-box' to win over customers.  It's natural, you see Nike do a great campaign and you think "wow, if we could only be Nike of the [mortgage, banking, lending] industry we'd be [rich, famous, loaded with business]".  As Seth Godin points out, the mortgage … [Read more...] about It’s Not Rocket Science but it doesn’t mean its easy

It is being reported by the OC Register's Matthew Padilla that Ameriquest has agreed to a buyout by Citigroup to fund operations and loans.  More later. … [Read more...] about Ameriquest Acquired by Citigroup

Doc Searls talks about how Starbucks can recapture its soul as a great coffee house in his post The Sole of Starbucks.  It got me to thinking what can the industry do to get back its soul (if there even is one left?)?  Soul=helping people protect their families through smart stewardship of their home (aka their single largest asset). 1) Turn the lights on … [Read more...] about Reclaiming the Soul of the Mortgage Industry

I'm glad to see TheXBroker taking on the realty agent position that somehow the comoditization of the real estate industry shouldn't apply to them.  In his post Buyer Agents Beware he says: Look deeply- protecting the Listing is all about keeping the Buyers Agent alive and over funded. What other purpose does â??proprietizingâ?? a Listing serve? Really, how difficult is … [Read more...] about They’re all Blown Purchases