Mike's Minute...: Give me your best "Protect Our House"

Amazingly this wouldn't have much to do with Countrywide if it wasn't for the strange irony involved.

For the last couple of months I've heard various grumblings about one of the largest mortgage brokers in California, Diablo Funding. I kept quiet as I didn't want to spread unsubstantiated rumors. I have always admired the Diablo Funding concept. They were a top notch outfit. Some of the smartest real estate minds I know worked for Diablo Funding.

Last Friday, I posted that it was now official. In "That's No Moon..." I broke the news that Diablo Funding was shutting their doors as of yesterday, October 23rd, 2007. I was also a week behind in sending out my newsletter to real estate agents in the area. At the last minute I changed the first article to include my Diablo Funding story. The e-Newsletter went out at 4:45 PM. Minutes later I received a frantic phone call. It was from a Diablo Funding employee.

"Are you Mike Mueller?" she asked.

"Yes I am"

"I'm here to tell you... You have it all wrong! We're not closing! You better print a retraction!"

"You are not closing? That's great. Good for you!" And I meant it. I know quite a few great people who I did not want to see lose their jobs.

"We're stronger than ever! You better print a Retraction! I'm going to forward this on to Anthony! " (this time with even more emphasis)

"Ok, that's fine. By the way, who's Anthony?" I asked.

"He's the CEO. You better print a Retraction!"

She then went to my blog and attempted to post a comment anonymously. I don't allow anonymous comments as a rule. I also track everything. I know which Agent forwarded the email. I know that although this was anonymous, I also know who it was (via their IP address).

So here's my retraction...

I'm NOT Retracting.

I was correct. I was 100% correct. I was also a full four days earlier in posting than these other guys. I could have been correct weeks earlier.

I still wish everyone involved with Diablo Funding the very best. I really mean that.

I talked to a Broker friend of mine later that Friday night. He had already interviewed and hired a sizable amount of ex Diablo Funding loan officers.

I wrote this earlier and it bears repeating. Loyalty is an admirable trait rarely found in employees. I admire and applaud her loyalty. Blind faith is not. Try not to confuse the two.