Russ Msrtin's (edumakated) Blog

 From that.... to this:   Ric Flair FinanceYet another reason why the mortgage industry has no credibility left.  I thought Trump Mortgage was bad, now we have ex-pro wrestlers hawking mortgages.  I know some of you felt I was a little too blunt on the previous post about consumer intelligence a...

When I was completing my MBA in marketing at Northwestern University (Kellogg), I recall a very well regarded marketing professor telling the class that when we are designing marketing campaigns at large corporations that it is important to remember that the general populace is pretty stupid.  W...

Mortgage banks and mortgage brokers have a love-hate relationship.  Kind of like Eminem and his wife, Kim (or is it ex-wife again).   They need each other, but their love or hate depends on the time of day. As the mortgage meltdown continues to grab headlines, it appears that mortgage brokers and...

I told you several months ago that 99% of people pay their mortgages on time and also suggested that once we start digging into the foreclosures data we will see that it isn’t little old ladies going into foreclosures but specuvesters. My main point really is that all the talk about predatory le...

The Wall Street Journal ran a front page story a few days ago about a family in California who is at risk of foreclosure.  I feel really bad for the family.  Foreclosure isn't something I would wish on anyone.  However, I am sick of the sob stories and I am sick the mortgage brokerage industry be...

Why is it so hard for Realtors to work in tandem with loan officers to ensure that the deals get to the closing table with no problem?   You would think that since we are the ones holding the purse strings, Realtors would be more proactive in ensuring a smooth transaction.  There is always a lot ...

Several lenders announced new guidelines today in effort to stem loses from poorly performing Alt-A and subprime mortgage loans. The new guidelines will ensure that borrowers are able to afford their mortgages and prevent future foreclosures. Mortgage applicants must have 20/20 vision.  Correcte...

Which one of these clients would you rather lend money to?  Which one would you expect would pay a higher mortgage rate?  Which loan is harder to get approved?  Which loan is more likely to go into foreclosure? Client A: This client is Joe Sixpack and a first time home buyer purchasing a $250,000...

Looks like the Donald isn't immune to the mortgage meltdown.   Trump Mortgage is closing its doors less than two years after opening, although Trump has sold licensing rights to First Meridian Mortgage.  You may also remember that shortly after, I said that Trump getting into mortgages was the la...

Capital One's advertising campaign did ask a great question.  Using a Capital One credit card used to insure that there would be less money in your wallet.  After years of stalling and excuses, Capital One has finally agreed to start reporting their customers' credit limits to the three major cre...