Comments on: An Insider’s View of Golden West and the Sandlers, by Dave Stevens

By: Roger T.

Roger T. — Wed, 30 Sep 2009 05:01:34 +0000

Congratulations to Dave Stevens! This is certainly a well deserved appointment. I spent 16 years of my career in the mortgage business with WSL/GDW which started in the early 90’s under Dave Stevens and Brad Blackwell, the 2 well respected young executive in upper management. The company was determined to find and trained the best sales people in the industry. The Sandler’s on the other hand created one of the most respected and well managed company in the history of the mortgage business. Thank you Dave for speaking out in behalf of our beloved former employer. But 20 years after you left……….and only a few gray hair, you look good! Good luck to you!

By: Deb K

Deb K — Mon, 23 Mar 2009 13:23:47 +0000

As a former employee in loan production at World Savings, I felt personally attacked by the recent portrayal in the media. Dave’s response is accurate. As part of the management team, we were trained (and yes, almost in a cult like manner) to understand and comply with the conservative policies and procedures that made Golden West the Most Admired Lending Institution by Forbes year after year. If not for competitors flooding the market with option arms, combining risky underwriting with misguided business practices, we might be praising these loans for keeping payments affordable, in spite of real estate values. Thank you Dave for articulating the essence of this issue.

By: Dave Stevens has been selected to be head of FHA

Dave Stevens has been selected to be head of FHA — Sun, 22 Mar 2009 23:56:18 +0000

[...] is a MortgageNewsClips contributor. Dave’s post about his experience working at World Savings, and the Sandlers was one of the most heavily read posts ever on this [...]

By: allan bortel

allan bortel — Thu, 19 Feb 2009 18:16:13 +0000

Well said, Dave. Sixty Min. should have interviewed you. allan

By: Burney

Burney — Thu, 19 Feb 2009 17:51:38 +0000

Having competed with GDW thru the years, I can attest to Dave’s facts from that perspective. I always respected the Sandlers/GDW amd followed their performance closely via sec filings, news releases, etc. It is a shame, though not surprising, that 60 minutes did such a poor job on their recent story.

By: admin

admin — Thu, 19 Feb 2009 17:18:47 +0000

Fudging and Distortions at 60 Minutes – The show’s attack on Herb and Marion Sandler is both factually incorrect and unfair – has many good points and responses – post by Tom Brown at bankstocks.com http://www.bankstocks.com/ArticleViewer.aspx?ArticleID=5678&ArticleTypeID=2

By: Marion Wagner

Marion Wagner — Mon, 02 Feb 2009 19:41:40 +0000

Thanks Dave, for saying what all of us who worked within the superb organization at Golden West know to be true. The GDW model was sound and unique in the recent history of the industry. Broad brush analysis that lumps GDW in with organizations that misused the concept is an over simplification.

By: Ryan Schnoke

Ryan Schnoke — Tue, 27 Jan 2009 15:38:23 +0000

Great information to share Dave. Golden West just happened to be the convenient scapegoat for a Wachovia senior management team that was in place for several other costly mistakes during the last few years. The Sandlers created and maintained a superb organization that I am confident would still be standing if it had remained independent. It has always been sad that they never received the recognition that they deserved for creating such a well run and respected company. Lumping the organization with WAMU and Countrywide just because of the Option ARM shows anyone that knows what went on at Golden West that the person making this comparison did not do their homework.