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NEW -> Contingent Buyer Assistance Program
I know, I have so many friends that are, or will be out of work by the end of the year, business will never be the same. OC used to be the mortgage business capital, and what will become to the thousands of real estate agents in OC ?
 
<p>Wholesale is dead. </p>

<p>Only the biggest-of-the-big will remain - and not even all of those.</p>

<p>The good news: working in the mortgage industry is a thankless job - people will be much happier wherever they go!</p>
 
<p>Folks have been wishing for the demise of wholesale for some time, I can't say whether or not it will happen, at least not now. I've thought about leaving the business myself, I guess I could buy a pick up truck and a load of plywood and start boarding up houses.</p>

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<p>Now, that's what I'm taking about OCbob!</p>

<p>Let loose - you're among, ah, friends.</p>
 
<p>I'm friends with a guy who did board-ups in the 90's. Nice work, if you can get it.</p>

<p>I told him that we'll be doing it again in a few years.... He didn't disagree. </p>
 
<p>OCbob,</p>

<p>Not really. </p>

<p>I'm an ex. There seem to be a few others still doing it.</p>

<p>I was joking with you before.</p>

<p>There are, however, some very nice folks here!</p>

<p> </p>
 
<p>"My name is Bob, and I'm a lendaholic"</p>

<p>"HI BOB". </p>

<p>I'd just like to know how many people you sold down the river while making profits ? How many future board ups you had a hand in ?</p>

<p>.....and I only ask because you have tough skin.</p>
 
<p>I am not too familiar with your line of work. But yesterday, you'd mentioned your business is: mortgage bankers losing their correspondent with other lenders; hence, they broker them to you.</p>

<p>How does that work, OCBob? Thanks.</p>
 
<p>Not my business in general, but a reason why I am busy now. Many of these lenders you see on those Saturday morning infomercials, on AM radio all the time, those guys had warehouse lines to park the loans they fund in their name. They have (or had) correspondent relationships with CW, Indy, Chevy, etc., they underwrite to their guidelines and then sell the loan to the correspondent after it funds. It appears to the consumer as if they are a direct lender. Those correspondent relationships are pretty much nonexistent any more.</p>
 
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