Monday, September 27, 2010

The Joys of MortgageLand

yes, these 2 stories REALLY happened. and today actually :

1. i underwrote a loan where the borrower has had 2 jobs in the last 2 years and his most current job, he was laid off and on unemployment for a couple of months THIS year. so i asked that the employer state the dates of unemployment on the verification of employment and MUST state that it was not likely to happen again.

broker responds with an email stating that the borrower is upset about this and why would we need this, etc.

i respond back with "unfortunately I need them to state that it is unlikely to happen in the future to establish stability of income. His employment is not 100% stable in my opinion."

so broker responds back with "what about his employment is not stable?!"

so we go round and round....this was last week.

this morning, we get an email from the broker...

"Good Morning,

Please do NOT continue working on the above file. Customer has cancelled.


so ivycurlz emails her back and asks if she wants us to go ahead and cancel out the file.

her response :

"please..................guess what.................Mr. S* lost his job !!!............guess the underwriter called that one, huh !!!"


2. "This is an emergency we are going to lose this loan if we don't fund for september. Conditions attached - lets get the CTC!!!

Thanks again, *name withheld*"

let me clarify that CTC means 'clear to close'.

so ivycurlz looks at the conditions that were sent in and the broker fails to realize that the written verification of employment that was completed by the employer states that the borrower RESIGNED 9/8/10.




no, these scenarios did NOT happen, but we made fun anyway :

butterfly : Hey I have a borrower that has been at 12 jobs in the last 2 years and unemployment on top of that. But we PROMISE they will still be at their job for many years to come, so you shouldn’t need to prove stability of income, right?


farls : ok so my borrower has never had a job but promises to get one if you approve this mortgage loan.
Please condition for the promise note, and make that a funding condition...need to close asap!

ivycurlz : Scenario:
Excellent credit customer (mid 500’s) been on the job for 6 months (laid off twice in the last year its not their fault though I can get an LOX) and only 42 NSF’s in the past 60 days, what do you think?

butterfly : Hey! I need a CTC right now like yesterday like right now and here all my conditions and I’m such an idiot that I didn’t even see that the VOE says he had resigned. OMG> LOL. IDK. I’m so silly.

farls : I really need to close this file, the borrowers girlfriends, cousin's, neighbor's, best friend is going to promise to split the payment if he can use the garage for a pharmaceutical production facility.Borrowers promises this is not an illegal operation and will be very profitable, can you make this a funding condition? Really need to get this done before the end of the month.

Monday, September 20, 2010

Jeremy Spoke In Class Today

this is an odd post and entirely random as i haven't posted on this thing in so long, but this is sparked by a conversation i had over the weekend about the well-known pearl jam song "jeremy". years after the song came out i remember having arguments with people about who this song was about. it took me way back and brought back so many memories. i argued that this was about a kid that killed himself in richardson, a suburb of dallas. i would always get crazy looks and the "whatever" reactions.

i met jeremy prior to his death. the memory is a little hazy, but i remember his face. end of 1990-beginning of january 1991. i was 14, about to be 15 and in the 9th grade. i was over at my friend dusty's house one day and there was this kid jeremy there - if i remember correctly he had a friend or two with him as well. i remember us all hanging out for a while that day although i don't remember what we did. i remember that jeremy liked dusty very much, and i remember talking to her about him and her feelings toward him were not mutual. so i'm pretty sure they stopped talking. it wasn't long after that time that we had heard the news that he had killed himself in front of his classroom in a high school a few miles away from us. dusty and i had started to drift apart as friends at that time, but i do remember talking to her and she was so distraught by it and feeling like somehow her not liking him back had a part in his actions. we were just kids when this happened, but the affect it had on us was scarring. we were too young to understand.

so this morning, i got on the internet and did some research. there are interviews with eddie vedder where he does in fact state that this song was written after he had read the news about jeremy wade delle taking his own life in front of his high school classroom at richardson high school in richardson, tx.

going back to this time in my mind is so strange...i haven't visited that specific place in so many years.

jeremy, so many years after you took your own life, i think of you today and remember back to the day that you did this. i'm sorry that you felt like you had to leave this earth when you did. being a teenager was the roughest part of my's amazing that many of us do make it out alive. i remember your face and seeing your photo has a true sense of eeriness. rest in peace, dear jeremy.
here's a good website dedicated to him :