Broker confidential

[Bubblesitter]

Anybody mortgage brokers out there willing to tell us what it was like on the inside?

What was the ethical environment like? You can perhaps use this is an opportunity to set the record straight or cleanse your soul.

I promise to withold any judgement. It takes some courage to post here, although not much as it is anonymous.

[Pasadena Broker]

Sure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.

Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.

Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.

So shoot, whatcha want to know.

[Pasadena Broker]

Sure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.

Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.

Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.

So shoot, whatcha want to know.

[Pasadena Broker]

Sure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.

Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.

Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.

So shoot, whatcha want to know.

[flyer]

Just have a question for you Pasadena. . .

How do you see the housing situation playing out in CA with regard to loans? Since just about every home in a decent area of CA is over the $417K magic number, do you see drastic price reductions as the only way to cope with this limitation, or will the mortgage industry/FED/etc., etc., find some way to keep pricing propped up, and continue to grant mega loans?

[flyer]

Just have a question for you Pasadena. . .

How do you see the housing situation playing out in CA with regard to loans? Since just about every home in a decent area of CA is over the $417K magic number, do you see drastic price reductions as the only way to cope with this limitation, or will the mortgage industry/FED/etc., etc., find some way to keep pricing propped up, and continue to grant mega loans?

[flyer]

Just have a question for you Pasadena. . .

How do you see the housing situation playing out in CA with regard to loans? Since just about every home in a decent area of CA is over the $417K magic number, do you see drastic price reductions as the only way to cope with this limitation, or will the mortgage industry/FED/etc., etc., find some way to keep pricing propped up, and continue to grant mega loans?

[SD Realtor]

You gave me a chuckle on the title rep line PB.

SD Realtor

[SD Realtor]

You gave me a chuckle on the title rep line PB.

SD Realtor

[SD Realtor]

You gave me a chuckle on the title rep line PB.

SD Realtor

[Pasadena Broker]

Honestly, I don’t know how the loan situation in California is going to play out, but as we all know it’s going to be bad without a bailout and even worse with one. From all the charts and graphs the natives of this forum have posted, California is going to be ground zero for the arm implosion and it’s going to get beyond ugly. There’s a lot of buzz on wall street, Washington, and the lenders but it’s anyone’s guess. I’m a bit player rising and falling with this tide but personally I think we should let this play out without interference. Shake out the bad loans, let property values adjust to normal levels, start a new cycle, but better next time around, go back to fundamentals. As for how far property values will go down, well, I think that’s a title for a new thread, sd realtor and SD realtor will chime in and debate the down , but there was a chart floating around showing the medium line of increase versus the current increase and it’s out of whack. 20-40% decline or prices back to 2002 levels, sure, why not? I was in the middle of responding to you this afternoon when the wife gives me the eye because we were heading over to Irvine to visit her side of the family. I was surprised to learn that the low end condo market in Irvine has taken a nice dive since June, $420K asking down to $395K and $375K and we’re not even into the fall/winter slow season (sister in law is an avid follower of ziprealty and tracks her neighborhood like most of you here). I’ve asked the seasoned brokers that have been doing this for over 15 years and they tell me that what’s going on is unprecedented and they’re a little shaken, but who isn’t right now? But they knew these days were coming and have known it for a while.

SD R you know that’s pretty tame to some of the other stories out there…glad I made you chuckle.

[Pasadena Broker]

Honestly, I don’t know how the loan situation in California is going to play out, but as we all know it’s going to be bad without a bailout and even worse with one. From all the charts and graphs the natives of this forum have posted, California is going to be ground zero for the arm implosion and it’s going to get beyond ugly. There’s a lot of buzz on wall street, Washington, and the lenders but it’s anyone’s guess. I’m a bit player rising and falling with this tide but personally I think we should let this play out without interference. Shake out the bad loans, let property values adjust to normal levels, start a new cycle, but better next time around, go back to fundamentals. As for how far property values will go down, well, I think that’s a title for a new thread, sd realtor and SD realtor will chime in and debate the down , but there was a chart floating around showing the medium line of increase versus the current increase and it’s out of whack. 20-40% decline or prices back to 2002 levels, sure, why not? I was in the middle of responding to you this afternoon when the wife gives me the eye because we were heading over to Irvine to visit her side of the family. I was surprised to learn that the low end condo market in Irvine has taken a nice dive since June, $420K asking down to $395K and $375K and we’re not even into the fall/winter slow season (sister in law is an avid follower of ziprealty and tracks her neighborhood like most of you here). I’ve asked the seasoned brokers that have been doing this for over 15 years and they tell me that what’s going on is unprecedented and they’re a little shaken, but who isn’t right now? But they knew these days were coming and have known it for a while.

SD R you know that’s pretty tame to some of the other stories out there…glad I made you chuckle.

[Pasadena Broker]

Honestly, I don’t know how the loan situation in California is going to play out, but as we all know it’s going to be bad without a bailout and even worse with one. From all the charts and graphs the natives of this forum have posted, California is going to be ground zero for the arm implosion and it’s going to get beyond ugly. There’s a lot of buzz on wall street, Washington, and the lenders but it’s anyone’s guess. I’m a bit player rising and falling with this tide but personally I think we should let this play out without interference. Shake out the bad loans, let property values adjust to normal levels, start a new cycle, but better next time around, go back to fundamentals. As for how far property values will go down, well, I think that’s a title for a new thread, sd realtor and SD realtor will chime in and debate the down , but there was a chart floating around showing the medium line of increase versus the current increase and it’s out of whack. 20-40% decline or prices back to 2002 levels, sure, why not? I was in the middle of responding to you this afternoon when the wife gives me the eye because we were heading over to Irvine to visit her side of the family. I was surprised to learn that the low end condo market in Irvine has taken a nice dive since June, $420K asking down to $395K and $375K and we’re not even into the fall/winter slow season (sister in law is an avid follower of ziprealty and tracks her neighborhood like most of you here). I’ve asked the seasoned brokers that have been doing this for over 15 years and they tell me that what’s going on is unprecedented and they’re a little shaken, but who isn’t right now? But they knew these days were coming and have known it for a while.

SD R you know that’s pretty tame to some of the other stories out there…glad I made you chuckle.

[Author]

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