I have been involved with credit and finance for the last 16 years with the past eight devoted to mortgage lending and real estate.Our industry has taken some pretty severe hits in the past few months. The main reason was unscrupulous individuals from the auto and collection industry entering our business because it became easy to do a home loan. The problem was that they lacked the capacity or desire to judge whether someone should have a home loan - or what type of home loan was best for that person - not just now but in the future. Today record numbers of individuals are in foreclosure and lending guidelines have mercifully tightened back to where they should be. This is driving off the "riff raff" in droves. Just this year in Washington State we were required to be licensed. There were 1400 individuals who could not pass a simple background check or who chose not to become licensed. What is even sadder is that 56% of the remaining individuals fail their licensing test the first time they take it. In my humble opinion - if you can't pass that test - you have no business handling the largest asset your client will ever have. Please just gracefully exit this industry and find something else to do.Well - now that I've ranted - let me tell you about me. I treat my clients as I would my family. With tough love. I am known for telling my clients the truth - whether they want to hear it or not. Our personal savings rate as a country is abismal - and we need more people speaking the truth - not just trying to make a sale.I believe in a "sales-free" environment in mortgage lending. The "sales" process has no business in this industry. What your clients need is good solid advice based on sound financial strategies. There is almost no one who should be taking that 1% payment rate interest only arm - but 90% of the current mortgage lenders will argue that it's great. Probably because it pays them up to 4% of the loan amount as a commission. But the borrower is stuck in a hopeless loan. Yes - there are a few clients who creative financing works for - but a VERY FEW. There is even a school of thought that you should keep your mortgage balance high and keep refinancing. Who does that help? Well - his name is Steven Marshall - and that's who it helps. It does NOT help the average consumer - and the housing crisis is showing that to be true.When you work with me - you get someone who will fight hard to get you from where you are - to where you want to be. We will form a team that will help you to reach your goals. I'll refer you to trusted advisors in the industry who can help.The bottom line is that you get what you pay for. If you are out for that discount lender or realtor - you will get discount service. I've never had a client say to me - "you are just not worth your fees.". The reason is that I am worth them - and more. Please give me a chance to make you one of my stark raving mad fans!
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Keller Williams Realty Inc.
