Tony D. Howell's (tonydhowell) Blog

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How many of you Realtors have heard the phrase, "We offer the BEST rates and customer service"?  I'm sure you all have, but how many loan orignators can back that statement up by reliable third party validation?  Olympic Mortgage Consultants, Inc. can!We were recently "shopped" by someone from th...

On 8/3/2007 ActaiveRain hit 41,000 members.  In just 5 days over 1,000 new members have been added to our community.  The popularity is growing folks!  I truly believe that we are seeing exponential growth here and will see 50,000 in less than 2 weeks.  I also think we will see that figure double...

In the wake of all the mortgage gloom and doom, National City has also ceased to accept new loan applications.  This latest news adds to a list of major players out of the business.  OwnIt Mortgage, Fremont General Corporation, Ameriquest, H&R Block Mortgage, SouthStar Funding, Flick Mortgage/Mor...

Well as they say, "Another one bites the dust!"  Aegis Mortgage has folded because of the weakening secondary market.  Here is an article from http://www.chron.com confirming the latest news.Lenders that focused on mortgages enjoyed tremendous growth during the housing boom, but now a credit crun...

Yep, I hate to admit it, but today has just been one of those days. So I'm getting ready to pull out of this bank parking lot and there was a SUV in front of me.  We were both turning right onto a busy street.  As I looked at him, he pulled forward and to the right.  I assumed he was going on int...

Here is a video briefly explaining what happened with American Home Mortgage last week.  http://www.cnbc.com/id/15840232?video=456595341In short, it talks about the secondary market that funds Alt-A loans and how Wall Street investors just stopped buying those types of mortgage backed securities....

So I posted a blog yesterday about American Home Mortgage and the dire situation that they are in.  Rumor has it that Accredited is in financial trouble as well.  I know for a fact that my account rep resigned the other day.  Does she know something we don't?  I received the following email last ...

I was just noticing that when I logged on earlier today, there were 41,008 current members.  At the time of this posting there are 41,111.  That means over 100 new members signed up TODAY!  Its amazing how fast this site is growing all the time.  I think at this point, we will start to see more o...

Of course everyone has heard of the mortgage fiasco as of late, but it has spread out of the sub-prime market and into the Alt-A area.  American Home Mortgage is NOT a sub-prime lender.  Its shares have fallen over 90% and it looks as if it will closing its doors in the very near future.  They di...