March 28th, 2008 8:26 PM


Dear Friends,

Last week's TEAMBLOG was a bit depressing. I mentioned the state of the US economy resembled the beginning stages of activity similar to the 1929 Crash and the Great Depression. Well, I must have been thoroughly depressed when I wrote my thoughts that day. I consider myself the eternal optimist but I was probably down in the dumps. All told, I was disturbed by the numerous foreclosures and the credit crisis which still has claimed countless of Americans in a struggle which seems unabated. I have several friends suffering this calamity and I'm truly distraught about the pain they must be suffering.

I also was reminded of the difficult task many mortgage brokers now have in submitting loans to lenders and investors during this 'credit crunch' meltdown. Loans which were approved just a few months ago are now scrutinized with a fine tooth comb. I had a file the other day that had over 32 loan conditions! Truly disturbing!This example has exacerbated the problem of TRUST in the marketplace to the detriment of everyone struggling to refinance or purchase a home.

Well, I sometimes become nostalgic of the easy days of loan originations where a wink, a nod or a handshake sealed the deal and secured the approval! Not anymore! Nowadays it seems as though you have to show a birth certificate, provide a High School Diploma, show evidence of one's bloodtype and recite 12 Hail Marys before you are approved for a loan! I neglected to mention you have to do 30 Jumping Jacks too!

Well, many lenders and investors that our company has known through the years are no longer around. I would say at least 2/3rds of our lending contacts are gone -but not forgotten. The consolidation of mortgage companies in this fashion will continue, sad to say. Nonetheless, in any business industry there will be innovators and new blood taking up the slack. I've heard it said, as the 'survival of the fittest'.

To that end, we are deeply humbled to be alive and still in operation for the past 18 years. The ups and downs we all face in our personal lives are reflected in the decisions we make by the paths we take.

No, no regrets, is advice we must embrace.

Please call our office at 323-936-3232 for any questions you might have in regards to your financial situation.

Let us help you & your family during these trying times.

Thanks Again

Posted in:General
Posted by Jesse Dorado on March 28th, 2008 8:26 PMPost a Comment

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