OTR: Gloves Off

This month's OTR gets a different format. This format is of one topic (no subdivisions) and written without a grain of salt. No tongue in cheek writings, just pure annoyance.

Within the past 2 years I have been witness to, at least, 8 situations where a mortgage broker would have been necessary. In the interest of promoting small business I have told said people involved in those situations (as well as many others) about one specific company. One of the owners has had 20 years experience in a banking environment followed by over 15 years in the mortgage industry. This particular business had 3 employees and that included the owner. I promoted this business based on the fact that they didn't have high fees and they didn't engage in unethical business practices. Not one person involved in any of the aforementioned situations even contacted this company for more information.

Result: this company has since gone out of business not due to the economy (people seem to like buying houses when they are cheap), but because people want to give their money to the covetous large corporations that practice unethically and blame the consumer. The corporations that continually give their high executives large raises while passing the burden onto others. This only reinforces those practices and tells small business even though they may be in business for the consumer and not themselves, that it matters who you are.

The 3 people in said business are now all out of work. Because they are out of work there is no income for them to buy luxury items (and sometimes not even necessities). What does that mean? The pocketbooks of other business are hit. Those business have to lay off workers because they can no longer afford that many employees... You can continue the cycle on your own time.

Am I angry, no. Am I pissed, absolutely. So to those who needed a home loan or refinance and knew about this company, I hope every time you look in the mirror you not only see the person you should have been, but the faces of the families you have hurt by your decisions.