Any GP45'ers Out There?

[GooglePts]

Originally Posted by Unregistered

He was going to get fired sooner or later for unethical practices. Better that he left when he did and he could take his dishonest work into the home loan industry. I heard he was getting divorced and that's karma working at its best. Bad timing and I equate it to jumping into the stock market in 2000. Whether anyone agrees with it or not, there are too many loan officers out there. The pie is only so big and it had already peaked. Not a good time to be jumping in. Sure you are going to have your occasional home equity loan, but that's not very stable. Not to many refinances and there are many other stable places to go into. Luckily I made my money when it was falling off of the trees and moved on.

I heard that people are going to quit refinancing by June of this year. And by the end of the year the housing market is going to crash. People are no longer going to be able to live in their homes because rates are going to be 35% and no one would be able to afford these payments. In addition, we are expected to see a 25% depreciation in house values starting next month. This is due to the fact that it will help improve our economy and get people to quit believing that buying a home is a good investment. It is because of this prophecy I forsee that leads me to believe that by the year 2010 houses will be a thing of the past. Instead we will be living in high rise apartments that will be controlled by the government due to some conspiracy theory that involves a massive amount of plutonium that is being filtered through are water system thus leading to mind control by corrupt politicians. I sure am glad I left the mortgage industry when I did before this catastrophe takes place.

Originally Posted by GooglePts

I heard that people are going to quit refinancing by June of this year. And by the end of the year the housing market is going to crash. People are no longer going to be able to live in their homes because rates are going to be 35% and no one would be able to afford these payments. In addition, we are expected to see a 25% depreciation in house values starting next month. This is due to the fact that it will help improve our economy and get people to quit believing that buying a home is a good investment. It is because of this prophecy I forsee that leads me to believe that by the year 2010 houses will be a thing of the past. Instead we will be living in high rise apartments that will be controlled by the government due to some conspiracy theory that involves a massive amount of plutonium that is being filtered through are water system thus leading to mind control by corrupt politicians. I sure am glad I left the mortgage industry when I did before this catastrophe takes place.

Are you really that stupid, or do you think thats funny, dumbass??? Go to hell and get a life, google, time to get something going for you. Oh and get rid of that green stuff you smoke.

Google, I read the same article in Time Magazine. They said that the expected interest rates by next year will actually be closer to 50%, but the great news for the mortgage industry is that credit card rates are expected to be at 125%. Every time you charge something, you instantly owe more than what you just charged. The government wants everyone to use as much equity in their homes as they can as they ultimately plan on buying out every lender in the country. By 2010, they will then own everyones mortgages and instantly foreclose on the entire country. Teams of special military troops will systematically evict people from there homes forcing them to move into these new government controlled apartment buildings. It really doesn't matter what industry you are in now, when all of this happens, we will all be forced into serving in the military and will be sent around the world to conquer every single country one by one. Oh the glory of the new world!

Originally Posted by Unregistered

Google, I read the same article in Time Magazine. They said that the expected interest rates by next year will actually be closer to 50%, but the great news for the mortgage industry is that credit card rates are expected to be at 125%. Every time you charge something, you instantly owe more than what you just charged. The government wants everyone to use as much equity in their homes as they can as they ultimately plan on buying out every lender in the country. By 2010, they will then own everyones mortgages and instantly foreclose on the entire country. Teams of special military troops will systematically evict people from there homes forcing them to move into these new government controlled apartment buildings. It really doesn't matter what industry you are in now, when all of this happens, we will all be forced into serving in the military and will be sent around the world to conquer every single country one by one. Oh the glory of the new world!

Funny post and we get your point. Now here are some facts; credit card spending and debt dropped for the first time in 15 years. The last 15 years we have seen double digit gains in credit card use and debt accrued. This was the first year it has actually dropped. Millions upon millions of people refinanced over the last 6 year when interest rates were the lowest in the history of this country. Millions of houses bought on interest only loans will be repowed very soon causing an influx of houses in the housing market. Plus rates will continue to go up to offset inflation. Simple economics and common sense will tell you that the market isn't looking so promising anymore. I'm certain you still you could make decent money, but this is definitely going to weed out a bunch of people in the industry. Let's just hope you aren't one of them. Before you tell me to go and wash a rig, I don't for Erac anymore and this is a legitimate objective opinion.

[GooglePts]

Originally Posted by Unregistered

Are you really that stupid, or do you think thats funny, dumbass??? Go to hell and get a life, google, time to get something going for you. Oh and get rid of that green stuff you smoke.

I was speaking facts. Didn't you read that article in the "Llama Letters"? I don't want to go to hell. It's really hot down there. I love you.

Originally Posted by Unregistered

Funny post and we get your point. Now here are some facts; credit card spending and debt dropped for the first time in 15 years. The last 15 years we have seen double digit gains in credit card use and debt accrued. This was the first year it has actually dropped. Millions upon millions of people refinanced over the last 6 year when interest rates were the lowest in the history of this country. Millions of houses bought on interest only loans will be repowed very soon causing an influx of houses in the housing market. Plus rates will continue to go up to offset inflation. Simple economics and common sense will tell you that the market isn't looking so promising anymore. I'm certain you still you could make decent money, but this is definitely going to weed out a bunch of people in the industry. Let's just hope you aren't one of them. Before you tell me to go and wash a rig, I don't for Erac anymore and this is a legitimate objective opinion.

The fact that alot of smaller brokers will be eliminated, coupled with the downsizing of the direct lenders, will make my job as a loan officer that much easier. So you are right, in that the market is slowing down with the rise of interest rates, but if you're in this business and you're good, now is the best time to be in mortgage. Eliminate the companies that were here in the first place because of the 6 year decline in rates, (that we may never see that low in our lifetime again) and level the playing field for the individuals that know that rate is not everything in the mortgage business. People will always get into debt, they will always buy homes, they will always find reasons to refinance. Because if you didn't know this already, I'll let you in on a little secret; there are thousands of lenders in the U.S. and only one can have "the lowest rate". Which means there are still thousands of other companies originating loans without offering the lowest rate, if you can sell benefits, and go to bat for your borrower and thier financial future, you can survive and thrive in the mortgage business...regardless of rate.

Originally Posted by Unregistered

The fact that alot of smaller brokers will be eliminated, coupled with the downsizing of the direct lenders, will make my job as a loan officer that much easier. So you are right, in that the market is slowing down with the rise of interest rates, but if you're in this business and you're good, now is the best time to be in mortgage. Eliminate the companies that were here in the first place because of the 6 year decline in rates, (that we may never see that low in our lifetime again) and level the playing field for the individuals that know that rate is not everything in the mortgage business. People will always get into debt, they will always buy homes, they will always find reasons to refinance. Because if you didn't know this already, I'll let you in on a little secret; there are thousands of lenders in the U.S. and only one can have "the lowest rate". Which means there are still thousands of other companies originating loans without offering the lowest rate, if you can sell benefits, and go to bat for your borrower and thier financial future, you can survive and thrive in the mortgage business...regardless of rate.

"Now is the best time to be in mortgages?" How does that kool aid taste?

Originally Posted by Unregistered

"Now is the best time to be in mortgages?" How does that kool aid taste?

tastes like fruit punch...Why?

Originally Posted by Unregistered

He was going to get fired sooner or later for unethical practices. Better that he left when he did and he could take his dishonest work into the home loan industry. I heard he was getting divorced and that's karma working at its best. Bad timing and I equate it to jumping into the stock market in 2000. Whether anyone agrees with it or not, there are too many loan officers out there. The pie is only so big and it had already peaked. Not a good time to be jumping in. Sure you are going to have your occasional home equity loan, but that's not very stable. Not to many refinances and there are many other stable places to go into. Luckily I made my money when it was falling off of the trees and moved on.

Are you crazy? Most of of you have no idea about whats going on with anything in regards to AM's and their lives. I know for a fact that if you really thought you knew Matt, then you wouldn't have written this. Matt is not getting a divorce, and he wasn't anywhere near getting fired. The last I heard, well actually know, he was offered a substantial raise to stay (which would have put him over 100K) but declined it. People make changes. The average college grad will change jobs at least 5 times in their life. Who cares if they choose to do mortgages. So what if the market shrinks as you may think. Its not going to affect you now is it? Most AM's I know are smart enough to find another job if one isn't working out. ERAC has lost great leaders in the past year. Wonderful area managers that worked hard for their people. Its to bad that ERAC and Larry didn't take notice of the trend earlier and fight harder for the AM's to stay. When one chooses to leave ERAC, the friends you think you have now, are not your friends after you leave. The saying "once your gone, your gone" is completely true. Only a select few make it to AM and above. If you think you will be with ERAC forever, I encourage you to think again. If you don't wan't to move out of state, then this career isn't for you either.

I love Roel Yumo, he is so funny. He knows big words like Flagellation. Roel is funny and smart and has good hair.