I know that I’ve been in the mortgage banking business too long when my children start using the trendy mortgage-banker phrases. The other day I asked my daughter to clean up her room, and she replied, “Dad, let’s circle back on this tomorrow – I have other things to do. And then we can close the loop.” And when I asked my son about his grades, he suggested that I “reach out” to his teachers if I had questions, and then he said, “At the end of the day, what difference do grades make anyway?” And lastly, when I called my dog off from biting the postman and was scolding her, she gave me a look that suggested, “Got it, got it, got it.”

If one is easily offended, please don’t view this mortgage-related youtube clip. Many, however, may find it entertaining. http://www.youtube.com/watch?v=tZ42ChFJiaw

Carteret Mortgage, a broker out of Virginia that originated more than $4 billion a few years ago, is exiting the biz. Funds, apparently, are tight, with the president saying, “Technically, we are not out of business. We still have licenses, the phones work, etc. We will continue paying full commissions as long as we can. Just know that as time goes on, that will get harder and harder to do.  I have laid off the entire admin staff to free up money to pay out the loan officers.  Every cent we get, we are using to pay off the loan officers and reserve accounts. You have to get th