Guest Post: The Front Lines

Published: September 12, 2007, 9:34 pm

Tags: mortgage musings, mortgage fraud, the truth about mortgages

Our latest guest post is from the writer of TheTruthAboutMortgage.com, sharing insight on his past experiences as a wholesale Account Executive: We've all heard about the mortgage mess, the subprime blowout, the bankrupt lenders, the sharp increase in foreclosures, and the declining home prices, but how many people actually know what it was like working on the front line? I can tell you first-hand what day-to-day operations were like, and I'm sure any other Account Executive would echo this. I worked for a wholesale lender that rose quickly, and fell sharply to its demise, all in the matter of a few years. It kicked off with company cruises and concluded with $2 bottles of champagne. I worked as an Account Executive, the intermediary between the loan officers/brokers and the wholesale lender. My job was to originate loans, though the job detail was more about lies and fraud above all else. There were so many instances of it, in so many forms, and on so many

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