On Saturday Mornings, I usually begin my real estate weekend by driving about a total of sixty miles or so... visiting various open houses, or dropping in and visiting friends who are either past clients, or folks in my Top 33 Advocate Referral Group.
While I make the rounds, I usually listen to NPR... National Public Radio. If I start early enough, I listen to those two Car Talk nuts from MIT, and then some silliness called "Wait, Wait... Don't Tell Me."
This afternoon, just after "Wait Wait"... the NPR series "This American Life" aired a program titled The Giant Pool of Money . I must tell you that I was just blown away by this incredibly comprehensive story that unwound and took apart... piece by painful piece... the horror that began as the Housing Crisis, and slowly over a period of about four years... evolved or deteriorated (take your pick) into what we've been calling "The Credit Crisis." (Did anyone else happen to hear it ?)
Over the next week I am going to take this entire program... which featured many blow-by-blow recitals of the various stages and happenings of this mess... and break it down into a story and terms I can better share and make sense of myself.
As a Professional Realtor, I have always prided myself on what I thought was my fairly comprehensive degree of knowledge concerning mortgage finance programs, Fannie Mae, Freddie Mac and FHA qualifying guidelines, and my knowledge of mortgage and closing documents like the 1003, credit reports, FICO scores, VOD's, VOE's, appraisals and LTV's, and the HUD-1.
I must say... that during this program, I learned so much about what really happened to create this mess... and learned it from a pretty knowledgeable group of industry insiders who along the way... found themselves smack-dab in the middle of it.
I am kind of curious, though. How interested do you think Realtors would be... as far as learning more about the in's and out's of what made all this happen ? Will anyone be interested ? Or will this just be another example of this Realtor going overboard about deciphering both the Mortgage Crisis and the Credit Crisis ?
Wanna know more ? Please give me some opinions, and ask whatever questions you have. Maybe between our answers we'll come up with some good ideas.