The lender carnage, death and destruction litter the home page of Aaron Krowne’s Mortgage Lender Implode-O-Meter like the beach at Normandy on D-Day. The infamous list has grown from September 2006 when Aaron started the website with approximately 10 failed lenders to a whopping 276 major U.S. failed lending operations today.

That comes out to about one failed lender every two days over the last two years. This is no anomaly- An anomaly is an irregularity, a mis proportion, or something that is strange or unusual, or unique.

Yes, 276 failed lenders are FAR from unique.

If you truly think about what is going on in our country right now and from the actual evidence on the ML-Implode.com website, your will realize that this is really not the “twilight zone” and our banking system is on the verge of complete collapse.

I think the question now is not “if” your bank will fail, but “when” will your bank fail. Read the rest of this entry »

There are a lot of myths surrounding lenders and servicers as to what they will and will not do during the loan modification process. 

The confusion and inaccurate data that is propagating the internet and the news is based on ill-informed bloggers or journalists who really have no idea what is going on in the loss mitigation arena. This to me is akin to someone who studies baseball and claims to be an expert, but has never caught a ball or swung a bat in their lives. How can anyone take them seriously? How can these same people be relied on by the media as “experts” when they have never even played the game? Read the rest of this entry »