Small banks may be exposed to nearly $300 billion in bad construction loans granted to local builders and developers according to a new report by the Wall Street Journal. The report estimates that more than 150 local banks could fail under the weight of the defaults.Construction loans are dicey propositions in the crashing housing market as builders who bet on repaying loans … [Read more...] about Small banks may be crippled by construction loans
An average loan officer from 2000-2006 got a pile of leads on their chair every week. These were generated by telemarketing leads, Internet leads and even those "win a Car" displays in the malls of the Midwest. The loan officer would call the people up, and try to "slam dunk," the customers into various loans of different and dubious suitability.These people … [Read more...] about What Will Sales Monkeys Do?
Update: If you're interested in having your resume reviewed check out my new service: Resume Donkey.I get a lot of resumes. People who read Blown Mortgage send me their resume and inquire about employment at my company. I'm always flattered when someone sends me their resume; it means they have an interest in my organization and, in a roundabout way, me personally. But, of … [Read more...] about How to Get a Job Outside of the Mortgage Industry