The Real Home Loan Genius
Looks like BlogWare is not immune to comment junk, either. I had a couple of mortgage links to delete today. If you really wanna know what to do about mortgages, home loans, refi, etc. – talk to Ponzi. She's an absolute genius when it comes to that housing stuff. As you may have noted in her earlier blog entries, she used to work for the top team at DiTech.com. Now, she's helping Lockergnome stay on the fast track. I'm prodding her to post a few money-saving mortgage tips when she gets the time. Everybody's gotta get a house sooner or later, right? Or refinance, if you're already living in one. And yes, we already see the irony in the nickname and her complete understanding of the mortgage industry.
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4 Comments
Anonymous
October 6th, 2004
at 5:42pm
And you can also check out the information at the Pirillo-friendly Real Life Debt and.. I bet even Ponzi would like it. :-)
Sunflowr
October 7th, 2004
at 1:02am
Lost ANOTHER loan to Ditech!!!!! ;D
sorry, but had to get that out. ;) I feel better!
Sunflowr
October 7th, 2004
at 1:03am
Lost ANOTHER loan to Ditech!!!!! ;D
sorry, but had to get that out. ;) I feel better!
Mayhem King
April 5th, 2007
at 12:03am
Um, Ponzi was a mortgage funder. That’s probably why in May she was trying to talk me into ghostwriting articles for her–without a written agreement–during her visit in May 2006.
For you to write that she has a complete understanding of the mortgage industry is complete misrep. She has a complete understanding of how to fund loans. She was a loan processor for a very short time at Mariners Capital and from what I remember, briefly she was an account manager at New Century.
To the best of my knowledge, she does not have a DRE salesperson license, a DRE broker license, and she is not a Certified Mortgage Planner.
Ponzi *is* probably the *best* funder in the history of the profession but it is inaccurate to state that she has a complete understanding of the mortgage industry.
If she wants to write articles, I’m sure that Julie and I would be happy to offer technical advice in our respective areas of expertise but when you make comments about how 98% of the industry are scumbags, it isn’t very endearing.
If you want to form a joint venture, I’m sure we can work something out. Julie has suggested to me that she and I start a mortgage site. between the two of us, we have 40 years of industry experience.
I will tell you that yes, there are scumbags in the industry. A lot of them were drawn to the industry for the quick money that was provided by the real estate boom. However, there are plenty of people in the industry who pride themselves on the value of service. Those are the people who Ponzi worked with.
The reason why Ponzi got out of the industry had little to do with the character or ethics of the mortgage industry.
A world-class funder; absolutely. Mortgage genius… a complete misrepresentation.
You can delete this if you want but I’ve already taken the screenshot.
Once again, Ponzi was the best funder I’ve ever worked with. She was a phenomenal funder. She’s no Julesschroom though. And even Julie doesn’t even begin to approach the understanding of secondary and compliance that I have.
This is not a slam. The real estate finance is very complicated, even on a consumer level. Don’t kid yourself. The yahoo salespeople borrowers speak with over the phone are only able to operate because of the people who really make their loans work. Those people are very knowledgeable. Very educated. Very experienced.
The real key for consumers to understand is the difference between those who know and those who don’t. *Hint* Those who know are the ones who probably aren’t telling the consumer what they want to hear.
“But I want the loan with a start rate of 1%!!!”
“Sure, no problem” vs. “Well, a loan with a neg-am option might not be the right loan for you”
“But I want that $1,000,000 home and with the stated income 1% loan, I can swing that!”
BTW, how much exactly does Ponzi actually know about these products? The indexes that drive these products? The appetite on Wall Street for these products? The latest drive by Sentator Dodd to place controls in the mortgage market to protect consumers? How well the ABX index is doing and how that will influence the future of morgage lending? Who the big players are in the market and what changes we can expect to see in the next 6 months?
Okay, I’m going back to work now. Good night. Thanks.