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The mortgage industry is broken. It takes 45 days to close a loan that should take 45 minutes.
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We originated 58 billion dollars in mortgages in a single year. Then rates changed and the world changed with them.
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I know the Zoom call was handled badly. I know. But the company was dying and I had to act.
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Mortgage lending is a rate-sensitive business. When rates double your business does not halve. It falls off a cliff.
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If you are not willing to be the villain in someone else's story you cannot be the hero in your own.
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We will be here when rates come back down. The question is whether we will be stronger. I intend for us to be.