by Bill Rice on August 28, 2008
Lots of borrowers are in mortgage loans that considering home values, economic conditions, or ignorance is about to run them into a catastrophic personal financial meltdown. This is a market that really needs professional help–this could be your opportunity. And loan modification leads may be the marketing plan. FDIC Loan Modification Plan The [...]
by Bill Rice on July 30, 2008
The collapse of the mortgage market has rapidly reshaped the face of mortgage lending. Wiped out are top lenders and notable consumer brands like: American Home Mortgage, Ameriquest, Countrywide, IndyMac, New Century, among 271 other closed-for-business major mortgage lenders. In a similar trend, even more lenders have closed their doors on major wholesale operations–potentially fulfilling [...]
by Bill Rice on June 12, 2008
Channel Dollar’s report of Nextag’s recent surge in traffic caught my eye. I think this surge is just another indication of NexTag’s aggressive style in a timid market. I reported back in February my opinion that NexTag was feeding on the opportunities forfeited by weakening competitors. I am still in that camp.
They continue to be [...]
by Bill Rice on April 22, 2008
As reported on Twitter by an early tipster to the Lead Critic, and quickly confirmed by LendingTree in letters to customers and a website FAQ, LendingTree uncovered a breach of internal security that allowed some mortgage lenders unauthorized access to customer qualification forms. This is LendingTree’s description of the incident:
Recently, LendingTree learned that several former [...]
by Bill Rice on April 18, 2008
Zillow has been at the lead marketplace building business for about two weeks, and I bet internally they are saying, “wow this is hard!” Early responders to the Zillow Mortgage Marketplace were easy to categorize, as I pointed out in my Zillow Gets Negative Reviews (from Non-Adopters), outside observers (non-adopters) were pointing out all of [...]
by Bill Rice on April 15, 2008
Many have watched in amazement as the mortgage industry has dramatically imploded. It is tracked like a body count on websites like the The Mortgage Lender Implode-O-Meter and each new melt down is a grand surprise.
However, I was just pointed to a tool yesterday that may take some of the surprise out who’s (at least [...]
by Bill Rice on April 8, 2008
I remember the first time I went to my Dad’s laboratory at the University of Kentucky and he showed me the magic of looking very closely at common everyday objects. You see, he had a scanning electron microscope and things you would think as simple as a common housefly’s eye are amazingly complex and interesting.
That [...]
by Bill Rice on April 7, 2008
I have been following the Zillow Mortgage discussion with great interest. By reserving follow-up to my early commentary in BusinessWeek I have an opportunity to survey the discussion and distill a few important observations:
Zillow did something radical
The harshest criticisms are from non-participants
Smart folks are observing and participating with the intent to learn
This is an important [...]
by Bill Rice on March 24, 2008
A pondering post by Jason Calacanis (Mahalo) about a camp to help startup entrepreneurs got me thinking. What would a Calacanis trained entrepreneur’s mortgage or real estate business look like?
Here is my guess:
It would be efficient with it’s capital and startup costs
It would have an expensive expresso machine
It would leverage the Internet
It would blog
It would [...]