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Jeff Wirsing

"I'm about a third of the way through the book. The points you make may be technically accurate but that's not what I focused on. For me, the book is increasing my cynicism. It's clear to me that the players at the top of the food chain don't do anything out of benevolence. They only dress things up to look like they are being benevolent in order to disguise they real motives."    View Comment
"Frank...My last post was intended to be a reply to your 7/2 post asking the question of how we as an industry can educate and protect Consumers. I certainly hope that the industry will resume some semblence of commonsense and normalcy. But even with what you described...somewhere in there is the "Borrowers" experience (what you described is more the LO experience)...which I know is important to all Originators. So the question becomes...what experience does the industry want the Consumer..."    View Comment
"The power to affect change is in direct proportion to the power of the individual. Power, in the case of individuals who live in a capitalistic society, is a function of financial self-reliance. The more financially self-reliant, and independent, American's become the more capable they are to affect change on all levels. If some one, or some industry, were able to offer a solution to truly help Americans to be self-reliant that would be a powerful value proposition. During the refi boom the mortgage..."    View Comment
"Frank - Step One in your process is a tough one for the industry to get their arms around because it takes a "consumer centric" approach and traditionally the underwriting process is has been one-sided (the guidelines are written by Wall Street...the buyers of the MBS). It will be necessary to adopt a platform of consensus as to what constitutes a product and strategy that is broad enought to serve the entire industry but also is specific enough to apply to indivudual consumers."    View Comment
"Credit scores are a backward looking measurement tool. They do nothing to look forward and assess an individuals committement to how they are planning to manage their finances in the future and protect themselves from set-backs which put a mortgage backed security at risk."    View Comment
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