{"id":1141,"date":"2007-03-13T11:06:27","date_gmt":"2007-03-13T18:06:27","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1141"},"modified":"2008-01-08T20:35:11","modified_gmt":"2008-01-09T03:35:11","slug":"countrywide-lendingtree-bear-stearns","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1141\/countrywide-lendingtree-bear-stearns\/","title":{"rendered":"Countrywide, LendingTree and Bear Stearns Mortgage"},"content":{"rendered":"

The lending roller coaster is just starting to roll<\/strong><\/p>\n

Most real estate professionals have to deal with an occasional unexpected consequence involving lenders… but not a string of them like this revelation.<\/p>\n

A client of mine decided to be a generous friend. He’s not a wealthy man in the strictest sense of the word, but that doesn’t stop him from trying to help his fellow man – or woman, in this case.<\/p>\n

Some of you might know a little about him, as he is Jack in my interview<\/a> with noted investment real estate broker Jeff Brown<\/a><\/strong> on my website.<\/p>\n

Jack has a friend who has been living in a drafty house owned by a slumlord. Although she didn’t live in a slum – the owner was treating the building as if it was. She was paying as much as $300 or more each month to heat her little place, as the cold wind blew through it like Swiss cheese.<\/p>\n

While looking at other investment opportunities for Jack, he asked me to find a condo that he could buy for this friend – thus allowing her to get out of this awful place she was living in.<\/p>\n

Remember – no good deed goes unpunished<\/strong><\/p>\n

My favorite mortgage broker found the perfect program with Countrywide – an 80\/20 loan for non-owner occupancy… and I found a perfect condo that Jack’s friend really liked – and with a price that worked.<\/p>\n

Our offer, though aggressive, was accepted. So far – so good.<\/p>\n

Enter the lead aggregator LendingTree. Jack logged onto their website to look at doing a refi on his home. What Jack did NOT know is that LendingTree would give his info to a dozen lenders who would all pull Jack’s credit (not pulled once and shared with member lenders like you might believe).<\/p>\n

So what difference does this make?<\/strong><\/p>\n

Plenty. While Jack was rearranging his finances and paying off debts – he was draining his cash reserves down. The refi was going to bring cash back into the picture for the rehab of his next real estate acquisition.<\/p>\n

The trouble is that when all those LendingTree lenders pulled his credit – his credit Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The lending roller coaster is just starting to roll Most real estate professionals have to deal with an occasional unexpected consequence involving lenders… but not a string of them like this revelation. A client of mine decided to be a generous friend. He’s not a wealthy man in the strictest sense of the word, but […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[5],"tags":[],"class_list":{"0":"post-1141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2969,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2969\/is-eric-blackwell-the-best-father-the-best-friend-he-could-be-on-his-way-to-being-named-greatest-real-estate-agent-in-the-world\/","url_meta":{"origin":1141,"position":0},"title":"Is Eric Blackwell the best father? The best friend? He could be on his way to being named Greatest Real Estate Agent In The World","author":"Greg Swann","date":"April 14, 2008","format":false,"excerpt":"Eric Blackwell showed us all yesterday what a great job he's doing as a father. Today, Ryan Ward offers potent evidence that Eric is a very good friend to have: He is throwing his support behind Eric in the SEO contest to determine who is the Greatest Real Estate Agent\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1216,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1216\/skewer-you-jack-youre-the-guest-of-honor-at-a-feeding-frenzy\/","url_meta":{"origin":1141,"position":1},"title":"Skewer you, Jack! You’re the guest of honor at a feeding frenzy","author":"Greg Swann","date":"March 25, 2007","format":false,"excerpt":"FBS Blog:Think about this: Trulia\u2019s brand is trumping the franchise brand, requiring payments to Trulia, and the franchise brand is trumping the brokers\u2019 and agents\u2019 brands, requiring payments to the franchise. At the same time, the brokers and agents in the field are building the business relationships that form the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2194\/you-have-your-real-estate-niche-%e2%80%93-does-your-website\/","url_meta":{"origin":1141,"position":2},"title":"You Have Your Real Estate Niche \u2013 Does Your Website?","author":"Eric Bramlett","date":"November 9, 2007","format":false,"excerpt":"Back in the day, I wanted it all. I obtained my real estate license, then my property\/casualty insurance, then my life & health, and I was ready to get my mortgage broker license, as well. I wanted to OWN the transaction \u2013 and every transaction. Are you looking for a\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1327,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1327\/when-banks-are-permitted-to-competethe-consumer-might-just-win\/","url_meta":{"origin":1141,"position":3},"title":"When Banks Are Permitted to Compete…The Consumer Might Just Win","author":"Brian Brady","date":"April 21, 2007","format":false,"excerpt":"In Southern California, many loan originators are licensed by the Department of Real Estate. Such licensing is unique to California. California was one of the first states to require licensing of loan originators and chose to require that they have a real estate salesperson's license. Some bright Realtors realized that\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9915,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9915\/docusign-may-be-the-best-friend-realtors-have-ever-had\/","url_meta":{"origin":1141,"position":4},"title":"DocuSign may be the best friend Realtors have ever had","author":"Greg Swann","date":"October 1, 2009","format":false,"excerpt":"Okay, so all the Realtors know that short sales are like a jack-in-the-box: You crank and crank for weeks or months and nothing happens, then everything pops all at once. Happened to me today, with the Sphinx-link bank suddenly lurching to life in order to issue two must-rush-now documents that\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1077,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1077\/why-the-traditional-real-estate-model-is-fading-away\/","url_meta":{"origin":1141,"position":5},"title":"Why The Traditional Real Estate Model Is Fading Away","author":"Jeff Brown","date":"February 26, 2007","format":false,"excerpt":"Kris Berg and Brian Brady inspired me to add my eye witness experience to the subject of the traditional real estate company business model. Their recent posts on the subject were excellent as usual. I've seen real estate from the inside since 1967. I was able to follow the owner\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}