Feel The Pain

At first I was just going to let this slide off into obscurity. I can't.

On Friday, I watched Jim Cramer of CNBC have his own personal on camera meltdown. I'm not a big fan of Cramer, but I certainly can feel his pain.

Cramer's was upset by the Fed's not paying attention to what is actually happening in the market. His Pain comes directly from his contacts in the hedge fund business. The fact that "good people" were losing their jobs because of the Fed's position. His Pain was that two of the Feds, Ben and Bill, were not paying attention. They just were not getting it.

I mentioned yesterday that the market was operating in uncharted territory right now. The 10 Year Bond Yield and the mortgage rates that have been mirroring the rise and fall of that bond yield have gone their separate ways.

My metaphor of choice was flying a jet through a cloud, no visibility, with no radar. Flying Blind.

I talked to a few Agents today. They've watched the same news I have, they've seen the same articles, some many even read that post. Yet as I was discussing current events with them, discussing the current Mortgage Meltdown, it became crystal clear they were just not getting the gravity of the situation. They just were not getting it.

"Mike, does this mean you can't get my self employed client approved for a 80/20 first time home buyer on a Non Owner Occupied duplex with his 600 credit score?"

Let's put it this way...

"Ladies and gentlemen, This is the Navigation Officer. I regret to inform you that it appears both the Captain and Co-Pilot have used their emergency parachutes and have left the plane. We'll pretend nothing has happened and continue flying on autopilot. Have a Nice Day and thank you for flying Mortgage Airlines!"

"So, how soon can we get them pre-approved and ready to make an offer?"

That right there is My Pain.

Jim, I feel for you.

Here is Jim's Meltdown.

Ben S. Bernanke, Chairman

William Poole, Federal Reserve Bank of St. Louis

Security Pacific Blogs!

Today we are teaching a class on blogging for the Walnut Creek Security Pacific Office.
This is a great office with some really great agents.

In a short hour I plan to show them

• What blogs are and what blogging is.
• Just how easy it is to start blogging.
• Why they want to blog.
• We're going do this class "live", and create two separate blogs right there in front of everyone!
• As a matter of fact this post is part of the class itself!

Two agents in their office; Bill Clemente and Rafael Quintero attended the class we did for the CCRIM group almost a month ago. They both created their first blogs on Active Rain (http://activerain.com)

You can view Bill's blog here: http://activerain.com/blogs/rafaelq









And Rafael's blog here: http://activerain.com/blogs/actorbill


I met with Ken Broz (kbroz@SecurityPacific.com) and he is eager to start blogging.
Ken's been shown the light and can't wait to get into it!

These agent's are going to be a wonderful addition to the real estate blogoshpere!
Their knowledge is second to none!

Please welcome them to the blog community!