Yes you are right but not all are like you, most you have to hold their hand the whole way, believe me it's not just filling out some paperwork there's a lot more involved when you actually do your job. There is nothing more important than integrity and the correct knowledge and experience in this industry. I can tell when the other person's a shark, I also know how to deal with them damn sharks. I'd love to hear this conversation over car dealerships, ha, ha, ha, what it the true dealer price of that new car? I'm also a licensed 220 property and casualty agent I know how expensive their policies are and no way they're making 500 or 1k on those cars they would not be in business for long.

Correct, I've never sold my own listing and charged the full commission 6% I usually do half and my broker takes his cut out of my commission.

Yes there are tards in this business just like all other businesses, but I can tell you the seasoned veterans like myself do not screw over clients, that's just bad business. I am usually the one to get screwed, show 20 homes then the client has a niece or family member that is licensed wasted 1 month or less showing places for free. Also a seasoned mortgage broker as well 20 plus years with both licenses. By the time I'm done with a transaction my clients are more than educated on both the lending and real estate process,
Question? Why does no one bat an eye when mortgage brokers make 2.5% minimum on every loan?

Come on Navy, Realtors do not make 3 to 6%, they work out of offices that take 30 to 50% of their half, so that 3% is really 1.5 to 2%, and if another realtor is involved then they split that 6% with them same rule above applies, I've never charged any client the full 6% if I sell my own listing. Man starting to sound like Govt after the collapse blaming mtg brokers, title cos, and appraisers, blame everyone but the banks and lenders that actually created the mess to begin with.

Yeup, you are correct.

Yeup, very strange indeed, it was 80 to 100 and less market share in the industry.

Yes, very interesting to bad all the real studies are buried or not funded, big money in pharma, DE is inexpensive too, I believe there are only a hand full of natural deposits of this freash water diatom. Iodine is another one as well, was researching how it increases IQ levels by 30%, anyone thinking of reverse osmosis, or distilled, clean water look into adding a pinch of Celtic salt or himilian salt, this will add the minerals that are depleted from our water supply.

My grandmother spent 10 years with some form of Dimentia, it was horrible, I learned of many things after the fact on how these horrible afflictions can be haulted or reversed and none are from pharma industry, check out Dr. William Mount on the tube. I had a massive brown tick invasion when my wife was pregnant and the bug guys said it would take 4 to 5 treatments, then I asked another bug guy told me DE food grade feel he felt sorry for us, house will look like Tony Montanas for a while but it worked no harmful spraying. Yeah, no one believes until they do it. Lots of holistic stuff out there and it works, period.

So does food grade Diatmatious Earth, kills bugs, safe to drink, eat, also gets rid of any parasites, don't breath it in or rub your eyes. Been taking it for years, also make sure you don't have mercury fillings it will eat them away.

Limited knowledge regarding this "personal vendetta" your family should have not cashed out on a loan backed by real property, maybe, like a lot of people thought having that BMW or Mercedes and or paying off non secured credit cards was more important than actual investment value backed by something worth as much as any commodity that's non renewable. What's that property worth now? Just as much? More? I'm sure the latter. You condem a company due to poor decisions made by your family? Please, get real we all got dinged in 07' 08',09' but difference is some of actually learned from this and were able to secure losses, putting money back in same collateraly secured properties, I lost nothing if not broke even or positive. Your here for a purpose and that's not to help anyone but yourself or those
that employ you. Back up, there's a train a coming and way too may been hurt not seeing the signs. GLTY
shortiee.

70, 80, briefly in the 90s

Wow, took this long to see that a round wheel works the best after all.

Yeup

Okay already, who's the cooler? That's holding long, just sell already so we can go positive. LMAO. COOLER IS THE GUY AT THE CASINO THAT SHOWS UP WHEN YOUR ON A WINNING STREAK.

Whatever, your posts are schizophrenic, but aren't we all?

Sell then, your the casinos cooler, lol

Shoot him a tweet, might get his attention, omit the Putin part obviously.

Like to slam Warners buck teeth into Bob c's shiny waxed top skull. Yeah, we really love these two.

Hold tight if you can, this pain means only one thing, birth, renewal coming soon. IMO of course. We're all feeling it. GLTY.

My grip just got tighter, thanks, selling is not an option at this moment, again thanks for your input, I was confused now I know I must hold on as tight as possible.. My 30s are looking good.

Agree

I was trading it before those prices as well, used couple of grand to buy in the 30s, been sitting on em for years now. Should have stuck with my original strategy, would have made a mint. Been in the biz over 20 years, I know the importance of the GSEs, they exist to provide liquidity to the primary mortgage market, in my and many in the industry, if you mess with them again get ready for 2008 2.0 the sequal. Anyone that does not see this needs to wake up, or take more meds. Really hope those in charge realize this for the sake of 30 to 40% of the economy.
GLTY

I've actually been in this since those prices, bought my fill long time ago. Waiting, waiting, waiting, "patience is a virtue" has taken on a whole new meaning.

Not alone 4 sure. Hind sight is 20/20, wishing I would have sold at 6 bought back at 1 sold at 5 again, wishful thinking, oh well.

Not a bad idea at all.

Oye, acere, yo también.

Man your so right, lots of really good peeps trying to save us from impending doom on our choice of investment in commons.

Yeup, break out the raid.

Ditto, wonder why he was here playing the good Samaritan. Lol

Pretty funny how price goes up after this. Damn, what a coincidence. Right?

Your lips to whomevers ears, says the I am, that I am, that I am.

Yeup

Yeup, no doubt. Run on da banks, lol, let's crash the whole dang system.

Great story, yeah, it was the wild west, I'm just doing RE sales right now, not much different, some sharks that have no business doing this, totally unethical, awesome veterans that are super knowledgeable just scraping buy. Commissions are way higher, as soon as this nonsense gets normal I will consider going back to the lending side for now I refer them to my old business partner, "one hand washes the other hand, and both hands wash the face" . Man just want an end to this F&F stuff already, it's getting rediculous, closure is needed. Got in low, wish I would have sold multiple times and bought back, but darn it, I did the one thing you should never do I married Fannie. Lol, I know, it's scarier being out than in, if that makes sense. I know these twins are worth a mint, I think some guys heads
are going to pop when this gets resolved. GLTY great convo once again.

The Disclosures used to be the Mtg Brokers responsibility, then lenders would mail them to be in compliance. Yeah, I remember looking at my business partner going WTH, in South Florida house prices would go up 30 to 40% a year, this made owners reckless, and Greenspan didn't help when on national television said you equity is like a bank account, maybe he meant savings, but everyone thought it was a checking account. I used to have a good friend that worked for New Century Mtg, he made millions a year, the top was grooming him as the tri County top Dog, I never closed one loan with his company, they wanted lies not the truth, this is a fact. On his client calls he would ask me for the solution to other brokers problems and I always found them, mostly a mature mistakes, he constantly offered me a position but I hated the Sub-Prime (BC) market. I also remember scratching my head as Bank of America bought that pig with makeup CountryWide. Lol, that's how much the BC was pulling in, unreal.

ALTA división crafted by Wells F after they saw the $ being lost to BC market.

Thank you, and cudos to you as well. Yes, most of my loans were word of mouth and referrals, I always kept my word my GFEs were never off, maybe within a couple hundred up or down, do to reissuing of the title insurance to keep costs down for my clients, I had a boutique and processed my own loans along with my 1 business partner. I did the nitty gritty and he had/has the magic touch to get business and some pretty big clients. I never did a loan for family or friends too much drama, they just don't understand that every loan regardless of points has fixed costs associated with said loan. Good Convo, love the fact you understand me. To those that say this was not orchestrated just look back and study history, it has occurred several times, not always in the same industry.

True F&F guidelines were Full Doc, the real problem was the BC lenders and ALTA divisions of large lenders TBTF banks that want a piece of that enormous BC market , usually based out of California, the ARMS were very attractive at the time to many buyers that probably did not know what they were getting into, No Doc, 80/20,Monthly Arm with negative Amortization on the min payment balance forward to the principle, then as LIBOR or MTA went up, every 2 to 3 years they were forced to refinance, once again using the equity for closing costs and points, it's these institutions that created these loans because there was a void and lots of $ to be made. I turned a lot of business away knowing these poor saps were not understanding what they were doing. Only time I did these loans were for very wealthy individuals, my advise to all others was to take the higher fixed rate and lower their spending habits, a lot of clients begged me for these products, as stated before, I turned them away and explained in plain English my reason, but there were tons of used car sales men (Mtg Brokers) that did not have a conscious and kept giving these loans to those who had no business being in. I have a masters in finance so I understand that one hiccup and they were finished. It was the perfect storm, but simple answer No FF were Full Doc for the vanilla rates, although the lenders you were approved with did use the DU, DO system, they were stated on the rate sheets and reps sales pitches as portfolio loans. In my opinion it was the BC, ALTA market that created this along with owners and buyers that were grossly misinformed. Like I said 20 plus years you learn a lot and you also see a lot of failures as well. I slept good at night knowing I did my best to help not hurt my clients or potential clients (borrowers) I did 80% full doc loans, only did exotic loans for the super rich that had the cash but did not want $ stuck in a long term hard to liquidate quickly (equity in said property).

NINA, SISA, SIVA, these were portfolio loan by lenders, lenders created them to cater to a certain buyers, F&F had their own full Doc guidelines that were run through DU & DO system, in this system you were able to pick your lender and their prospective product, sorry, never heard F&F doing the loans stated above through DU & DO, possibly they could have been forced to buy some of these portfolio loans because of low LTVs. I can talk for hours about this, but, what does all that matter anymore, TBTF banks and lenders already got away with it. F&F were demonized and toxic dump on them, miraculous that it did not sink them, but if you understand that if the land and building almost always appreciate over time then as prices went up they banked $, which was siphoned by treasury and The Fed bought tons of this supposed worthless paper with actual land and property attached to it. Lol, not complex, but dang peeps trying real hard to make it seem that way. Basically, a land grab, bigly.

Yes, so true, there are tons of variables. Way too many to post, agree 1000%, yep, been a loan officer (mtg broker) since 1994.