Online financial news

The WBUR.org story: After The Crash, Former Mortgage Brokers Find New Meaning In New Ventures interviews some former mortgage brokers to see how they are now earning a living in the post-easy-money economy:

A year ago, Souza started a company called Gold to Green Parties. Homeowners invite their friends and neighbors over to sell unwanted jewelry. Gold is fetching premium prices right now, and Souza’s company is expanding fast. She’s hired 20 people, many of them former mortgage brokers.

“We’re basically riding a gold bubble that came after a housing bubble,” Souza says, “and when this is done, I have no idea what’s going to be next. But I’m riding the wave.”

Souza used to ride the sub-prime wave as a mortgage wholesale representative. She was good at it, and she made a good living — $800,000 in her best year during the housing boom.

“I miss it,” she says.

Huh, I just bet she misses pulling in that kind of dough – $800,000! Wonder how much she is skimming making from her new gold business?

Similar Posts:

• A tale of two generations
• How To Refinance An Upside Down (Or Underwater) Mortgage.
• Jumbo Mortgage Lending Up 20 Percent
• Garrett: Get Rid of Mortgage Supports
• Caution Urged on New Mortgage Rules