To Our Clients, Colleagues and Friends:

· Here’s a conversation we had with a Northeast client recently:

Him: My rep at ABC says I’ve personally guaranteed the loans I sell them.  Is that true?

Us:   You need to look at the Agreement you’ve signed with them.  It’s not typical, but it’s possible.
Him:  I can’t, I don’t have a copy.” 
Here’s a reminder:  You should have all the agreements you have ever signed (and we include things like leases on equipment) well filed and easily accessible, If you can’t find them, call up your reps and get copies.  Spend an hour or two on this sometime next week.  Get organized.  Get those Agreements all in one place.

· Last week was the FDIC’s 75 anniversary.  It was truly one of the most important innovations in banking of the past hundred years.  Happy birthday, FDIC, and whether you like or dislike the New Deal, this one was a great idea.

· Having a hard time getting going with Reverse Mortgages?  We know a recruiter (we’ve known her for 15+ years, and we think very highly of her) who has developed a substantial pool of Reverse Mortgage candidates who have built, run and worked for successful reverse mortgage platforms.  If you’re interested, let us know and we’ll put you in touch with her.  

· Over time, housing prices simply cannot go up faster than the increase in household income.  We got the following from a Lehman report, and it says it all.