I am one of the 99%, therefore I am the 1%

Written By: Theresa Furzland

It would feel redundant right now to talk about the mortgage crisis, the financial meltdown, the homeless or really any subject that deals with the issues being discussed by the “Occupy” movements that highlight the controversy of the 99% versus the 1%. We need to talk about solutions.
Corruption has been identified at every level of the process; therefore pointing blame is also a redundancy that we do not need to visit.

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What I do think we need to discuss, however, is how the controversies are currently affecting the recovery process, and what this means for the future.
Why are there empty houses scattered across the country right now? The mainstream media’s attention is focused on the “class warfare” and seems to focus on the gap between the two extremes. It seems the majority of the country supports the ideas presented by the Occupy movement, but cannot participate directly because they have commitments to meet each day. They have jobs and are barely holding on to the homes that they are in. Yes, there are empty houses scattered around and the banks books have seen a loss on these properties. The houses themselves are falling into disrepair and potential homebuyers cannot purchase due to unreasonable restrictions put in place by the banks that are holding these properties.

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The folks that lived in those homes have taken their losses and, yes, many of them are homeless, but more likely they have “consolidated” “downsized” “compromised” and are “making it work” as best they can as the economy allows (without bailouts…)
Each and every person in this country is part of the 99% as we are each a part of the 1%. We agree on 99% of the issues. The problem is, we agree with our own 1% point of view.
I care deeply about this country and believe that each and every person deserves their freedom and the right to pursue their dream. However, my dream is not the same as yours. We are happy to advocate freedom, as long as it doesn’t infringe upon our own freedom.

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In the mortgage business we are currently facing an environment of heavy regulation, audits, reviews and calls for recompense. Instead of less paperwork and red tape, there now is more. What used to take overnight to get an answer on, now may take up to 90 days. In the end, the process takes longer and is more fouled up with this system of constant re adjusting of policies and regulations. We have 99% more regulations that have made us 1% more effective.
Perhaps the power of the 99% really resides in the 1%. Everyone should be held accountable to the laws that exist to protect the other 99%. No one should be held exempt from these laws.

About The Author

Theresa Furzland - As an NAMP® staff writer, Theresa Furzland serves as an instructor for Loan Processor University (http://www.LoanProcessorTraining.org). Theresa has 25+ years of experience ranging from origination, processing, closing and post closing. She is currently a producing Branch Manager for LendSmart Mortgage, LLC and own and operate Willow Wood Mortgage Services, Inc. If you're interested in becoming a writer for NAMP®, please email us at: contact@mortgageprocessor.org.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.