I Didn't Get the Position

I recently applied for a writing position in the financial industry and I submitted a couple of articles as part of the consideration process.  Alas, I did not get the position.  Since I do not want the pieces to just sit in my computer, forlornly, I thought I’d share one I had written for consideration.  The following piece is titled "Big Chicken Dinners" and within it I share some of my experiences with the high risk mortgage industry.


The economy is good , the economy is bad, Americans are wealthier than ever before, there are more Americans in poverty than ever before, what is an individual to believe, and, does what is stated in those words apply to you?  They may or may not apply to you, depending on your current circumstances.  What I want to look at today are Big Chicken Dinners, or, for those of you unfamiliar with mortgage lending lingo, loans for individuals with less than perfect credit.  Mortgages rated B, C, or D, depending on your credit rating.

A paper mortgages have been around for a long time.  An A paper mortgage is for an individual employed for at least 2 years and has maintained good credit.  Meaning the individual pays his bills on time.  B, C, and D paper mortgages are for those individuals with somewhat checkered employment histories and who pay their bills in varying degrees of lateness.  Somewhat late, B paper, mostly late to usually late, C paper, or always late and approaching bankruptcy, D paper.

Mortgage lenders who write these Big Chicken Dinner loans have a mostly negative reputation.  Some of them deservedly so, but the fact remains that these type of loans, and the lenders who offer them, play an important role in the mortgage industry, and, more importantly, as a cash flow provider savior, or devil, to the borrower.

Posted by on 02/23 at 10:29 AM

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