Mortgage Grapevine

Oregon will probably not re-up my license. Mtg career dead. See you guys around.

Well my 30 year mortgage career is officially over. website down, corporation being closed, bank acct, payroll service, etc all closed or closing.

Oregon is killing any chance I had to keep a mortgage license and make coin here and there until brokers totally cease to be.

Why? Was I a bad boy? NOPE.

CREDIT SCORES!!!!!!!!!

The new license requirements and the new combination state and national schooling/testing/license/bond requirements are mostly BULLSHIT!!!!!!

There are some good rules to come out of it including registered ID for any name on the bottom of a 1003 but there are ways around that anyway.

Those of us who have had bad times which lowered our scores are shafted. Those of us who figured out a way to get loans and try to pull back up out of the quagmire are SOL.

My credit score isnt good enough for the new license. Therefore, 30 years of self employment come to and end Dec 31st. My license drops and If I ever get my credit score back up must start from scratch to get another license.

So there ya go HELAM / Califguy! You can laugh at me and give me shit cuz Im such a failure, LOL!

The state gave me numbers on registered originators from 2007 until now and the decrease is stupendous. As of 2010 there will be many more dropping out.

This is unacceptable, people. The theory is that 'If you cant handle your personal/business affairs, how can you handle other peoples?'

I guess we could discuss semantics but we dont handle other peoples affairs. I provide info and help with the paperwork to close a new note and deed of trust. If I dont close 'em I dont GET PAID. If Im broke the need to close keeps me very attentive.

Make hay while the sun shines folks. One way or another your occupation is dwindling. Not much reason for me to hang around here now. I dont need to check on new laws or stay abreast of regulations, events, etc. Had made the switch to doing more real estate than loans but still wanted to keep the mortgage license active because the real estate end was starting to give me mortgage leads.

There should be lawsuits over this. You shouldnt strip people of their careers over their credit. Especially when they have been around and have a perfect record.

The BANKS ARE IMMUNE so far. Their originators are not subject to almost all new changes and licensing rules. They had the right to hide the EVIL REBATE and now they have the right to operate in our waters without the same recourse. All the industries woes have been placed on brokers. The banks used this like the anti gun movement used the words 'assault weapon'

Any Oregon brokers left who want to CO-BROKER? HAHAHHAHAHAH

I'll take my finders fees in cash, please. (Ya think THAT wont be happening out there?)

Silver lining? I dont have to ever worry about being audited, and I have boxes of business cards for a little fire to keep warm when Im living in an old rusted car in a field somewhere. It just keeps getting better and better.

Califguy and Helam, possessing both genius IQs and incredible business acumen, can smugly sit wherever they sit and toast lifes goodness while smirking over my failure.

I'll pop in now and then to give you all real estate type info that has correlation to YOUR industry. We real estate people like to share with you low life mortgage people. It makes us feel even more important to slum it with you on occasion.

Its been a fun 7 years here, having registered over 350 names in the past and sharing life with so many people. I have not cared about airing my personal laundry if it helped any others to not feel alone during the destruction of this industry. Did my part trying to keep it clean with more background work than you will ever know. Closed shops down, ran some off, caused 6 figures in fines to illegal offices, caused some large body shops and nets to have to change their bookkeeping and procedures. Its a wonder no one killed me but they were all PIECES OF SHIT and deserved it. Last laughs on me, aint it.

Bye Peter. Bye ACS. Bye Denny. Bye IGGY.





by JustplainMarvin November 6, 2009 3:51 PM

Marvin,

I can't account for Oregon, but I was at a presentation given by the Director of the Office of Financial and Insurance Regulation here in Michigan yesterday and he assured the group that there was no minimum credit score required, and he couldn't envision anyone being denied licensing because of purely credit reasons.

Take it for what its worth....
by MichiganTed November 6, 2009 4:04 PM

Marvin,

I hope things get better for you and I appreciate all the input and humor you have given us through the years..
Good Luck To You Marv!
by dead eye November 6, 2009 4:12 PM

Unbelievable! Minimum credit scores now to have a license on OR? That' complete Bull$hit!


by SunKing November 6, 2009 4:14 PM

Pretty much decided, Ted. Was told they dont know the exact score but probably in at least the mid sixes.
by JustplainMarvin November 6, 2009 4:14 PM

Marvin, here in Pa if your credit went in the toilet you can do a LOE as to why. I have a LO works for me his score was low 500s and he got approved.

Check into it in your state, it might work. Don't give up with out a fight. I know your a fighter, give them hell.


by Billy The Kid November 6, 2009 4:17 PM

...do you think you will have troubles getting your Bond/E&O etc.?? Friend of mine just got hers immediately following a BK and Foreclosure.

Keep humpin' man. Don't throw in the towel just yet. Make 'em kick you out.

I'm just going to keep doing loans until my lenders tell me no. Still gonna YSP and all that.! Just makin' my own rules.
by jusross November 6, 2009 4:25 PM

Sorry Marvin. F@#K the As@Ho#les doing this crap to people!

by Lakeside Lending November 6, 2009 4:35 PM

I want my crystal balls back!
by The Mortgage Psychic November 6, 2009 4:43 PM

Just having mine cut off, I have nothing for you, Psychic
by JustplainMarvin November 6, 2009 4:45 PM

Marv, did they say there was
a different requirement for
being a L/O instead of actually
having your own broker company?

Perhaps you could still do that.

PEACE
by FROG November 6, 2009 4:46 PM

So you lost the balls, eh Marv. Here is your problem. Your FICO score is in direct correlation to your number of screen names! 400 more and you will be good to go!
by The Mortgage Psychic November 6, 2009 4:51 PM

what's your new e-mail marv?
by dead eye November 6, 2009 4:52 PM

‘I give up. You win. I wont mention you again and you just leave me the hell alone.’

‘This is my last post to you, on my kids lives.’

by JustplainMarvin October 30, 2009 10:33 PM

by Hey everyone, look at me! November 6, 2009 4:53 PM

Hang tough man. Just remember GA. Strict laws were repealed when no one could get a loan any more. I still have faith that one day common sense will rule again.
by Rabalicious November 6, 2009 4:58 PM

HELAM the vine historian? I thought it was Paper Game?

Hey Marv, any of your customers getting calls from Fannie? are you sure you weren't blacklisted by Citi? :-)
by the voice of reason November 6, 2009 5:00 PM

(Someone tell the piece of shit that the post wasnt to him/her. Technicallly I didnt just kill my kids.)

Wow, that took all the JOY out of this thread. :<
by JustplainMarvin November 6, 2009 5:01 PM

‘I give up. You win. I wont mention you again and you just leave me the hell alone.’

by Hey everyone, look at me! November 6, 2009 5:06 PM

HELAM, surely you can't be serious.
by The Mortgage Psychic November 6, 2009 5:07 PM

Oh boy.


by TennesseeTuxedo November 6, 2009 5:08 PM

http://mortgagegrapevine.com/thread/?thread=568710
by Hey everyone, look at me! November 6, 2009 5:11 PM

Marvin - Pack your bags and move to California. Doing loans in the San Francisco & Monterey Bay Area is like setting up a lemonade stand in the Sahara. Join the local MLS and you've got over 300 purchase leads each and every day.

Screw Oregon!


by 29Palms November 6, 2009 5:11 PM

There are not too many people in the Sahara Desert 29Palms so I would imagine business to be rather slow there for a lemonade stand.


by Mensa Calling November 6, 2009 5:35 PM

Marv, NMLS will be flagging certain credit profiles for review by the states. Each state has to decide its own criteria. Here in HI our state NAMB affiliate is working directly with DFI to craft the rules for the new SAFE Act compliant licensing process. Our industry trade association has been able to convince the State that "bad things can sometimes happen to good people" especially in this economy, especially in our industry, and an appeal process that is not just score-driven should be in place for people with justifiable reasons for currently-low credit scores.

Yes, it's a lot of volunteer time, but it's paying off for our fellow MLOs in our state. Maybe it's not too late to re-open that discussion with OR.
by tropical breeze November 6, 2009 6:56 PM

That's for brokers not originators right?.
by boundlessloans November 6, 2009 7:47 PM

Its for all originators and brokers. However, I must stand corrected. I spoke with the state today and its not directly according to SCORE. They say they dont use scores. They do consider all the derogs in your report. Since derogs are correlated with score, its almost the same difference. However, they say they will work with explanations, and medical/hardship reasons are understood. (but with no guarantees and I understand that)

Since this entire thing is new to all of us including the state, they dont have guidelines in place for making a decisions BEFORE one spends the time and money to have the schooling etc in place to be able to apply! It sounds like they are more than sympathetic to this situation and are working on addressing it.

This could mean that I and some others who have low scores through mostly no fault of our own may be able to weather this and have mortgage income until Wells Fargo has us all killed in our sleep. FICO will have me killed before Wells does. I hope they have painless methods.

Have to tell you guys that I felt pretty down and worthless to lose the license after helping folks for 30 years. I just lost my California brokers license too---Ive been working so much I didnt see the new state requirements for edu and missed the deadline. As of tomorrow my 30 year CA license is inoperative. To re-up it late and with the schooling, its about $600 bucks. Otherwise, 29palms, Id consider going back to my Golden State.

HELAM ya worthless, spineless piece of jetsam. You are too low to be flotsam. Tell everyone who you are. You have kinda of a big, nasty mouth for a woman. I was going to out you but now that I might stay around, you will just have to continue to live in my shadow you sick, jealous coward. Some day when you learn to like yourself, the bitterness willgo away and you will be a bit more human. Its time to LET GO OF THE PENUS ENVY and give yourself back the time you spend tracking me. Pus bucket. It doesnt matter what I said to/about you in the threads you have printed and on your ceiling---everything I say is a lie according to you. Why should I be trustworthy now?

You fungus gas bloated swine stool.
by JustplainMarvin November 6, 2009 11:14 PM

HELAM ya worthless, spineless piece of jetsam. You are too low to be flotsam. Tell everyone who you are. You have kinda of a big, nasty mouth for a woman. I was going to out you but now that I might stay around, you will just have to continue to live in my shadow you sick, jealous coward. Some day when you learn to like yourself, the bitterness willgo away and you will be a bit more human. Its time to LET GO OF THE PENUS ENVY and give yourself back the time you spend tracking me. Pus bucket. It doesnt matter what I said to/about you in the threads you have printed and on your ceiling---everything I say is a lie according to you. Why should I be trustworthy now?

You fungus gas bloated swine stool.
by JustplainMarvin November 6, 2009 11:14 PM

‘I give up. You win. I wont mention you again and you just leave me the hell alone.’

‘This is my last post to you, on my kids lives.’

by JustplainMarvin October 30, 2009 10:33 PM


by Hey everyone, look at me! November 6, 2009 11:31 PM

Marv:

I've been around here since the Vine started. You've also been around here since then. I don't know how to say this nicely, but you've given your farewell adress about 17 times since I started here. Could you please give it a break? According to you, there's been a never ending story of doom as it relates to this business. Bottom line, there's a tremendous opportunity in this business. You seem to take the approach that "the sky is falling." Personally, I'm tired of it. Business is best conducted by those who understand that cycles are a part of the business. You've gone from banker to broker to Realtor to Realtor to broker to banker to Realtor to who knows what. Focus is the opportunity.
by hdbear November 6, 2009 11:35 PM

'I pity you in another respect though---I do not have to close loans to pay my bills. Must be tough making your sacrifices for our cause. Give me your address and I´ll send over our leftovers.'


by Hey everyone, look at me! November 6, 2009 11:48 PM

Califguy and HELAM, possessing both genius IQ's and incredible business acumen, can smugly sit wherever they sit and toast lifes goodness"

Marvy , I toast lifes goodnesss every day!!!!

PS Re-read HDBAR!!!!!!!
by CalifGuy November 7, 2009 4:49 PM

Do not judge lest you be judged. Life happens and everyone handles things differently. Give Marv a break.
by the voice of reason November 7, 2009 8:15 PM

HDBEAR Ive never been a banker. Ive always been BOTH a real estate and mortgage broker but didnt practice real estate for the last few years in OR, then activated the real estate brokers license some months ago and still use it for BPOs and trying to sell properties. Your past posts sound a lot like Secret. Guess you have a similar background.

I had a part time at Wells Fargo as an underwriter but had not given up my licenses. I tried two weeks as a cubicle jockey for a line lender. It sucked and they sucked. To be fair they are now doing what I thought they should do and dont suck any more.

I joked about selling hot dogs and shoe repair but anyone with an IQ over 4 would realize that I wasnt selling hot dogs or shoes, etc. Actually, as I stated in some threads there are people making 6 figures with hot dog stand and some other things we spoke about here. I thought it was potentially helpful to some readers.

My farewell address threads have been, except for the first few years ago,total jokes.

You can be as tired of my doom and gloom as you want. Everything has come to pass just as I and others said it would and its going to be worse until there are few if any brokers. You have also been a harbinger of doom in some past threads.

'Cally'continue to toast until the cops show up at your door for what you did. Know what I mean? I know you do. You have been mad ever since I turned you down on the phone to meet at a southern cal motel for a foot rub. Funny how Ive brought that up here before with no fight from you.

See you 'two' back here Sun or Mon. You cant live without me. Please give me some real challenge instead of your inane distortion of past threads? Your 5th grade innuendo leaves much to be desired.
by JustplainMarvin November 8, 2009 12:54 AM

So just so I get this . A man who can evade paying taxes can be incharge of a financial us system . but those of us that played by the rules and paid our taxes but werent able to make every credit payment are out on the street?
Any one Maybee I miss understood
by mrrules November 8, 2009 7:15 PM

Please give me some real challenge instead of your inane distortion of past threads? Your 5th grade innuendo leaves much to be desired.
by JustplainMarvin November 8, 2009 12:54 AM

Inane distortion? Please! Please! Tell me how anything was 'distorted?

by Hey everyone, look at me! November 8, 2009 8:52 PM

Hope an LOE might work for you
by Hank Foley November 9, 2009 1:21 PM

thread 552838
thread 553854
thread 557707
thread 559778
thread 560383
thread 567997
thread 575270
thread 574327

Marvy's "money making" posts!!! You'd think he'd be rolling in green!!!!!
by CalifGuy November 9, 2009 3:17 PM

Calif you stupid used up bag. Almost everything I do is satire. Even at that, some of the ideas are very good. I have not done many of them personally so your stupid little mental orgasms over 'catching me' at lying or failing are just that---masterbations.

Would you like a FOOT RUB???? ROFLMAO

Hey--didnt helam above respond to a statement I made about Califtardo? What are you 'two' joined at the hip or other parts? Should we call you Neal and Bob?

Low IQ freak.
by JustplainMarvin November 9, 2009 5:24 PM

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