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To: IngotWeTrust who wrote (3269)	8/15/2002 8:36:28 PM
From: loantech	Read Replies (1) \| Respond to of 4051

GT, I gotta be quick. The fraternal I refer to in its generic sense means organizations of any type that revolve around a central thinking mode based upon mass manipulation of the thought process and group thinking and actions. Religion, masons, corporate etc. I think insurance companies as a whole are necessary evil and do take gross advantage of the consumer. I personally own term life to protect my wife and children as its the cheapest and whole life is a terrible investment. In general my point of view is it's necessary but as a consumer we are getting scammed. Some of what you say about the lending business is true. Lot of scammers out there. The beneficials, households, 125%'s the churned refi's for no purpose that arithmatically do not make sense. I am not involved in that period. I do not and have never been involved in the consumer finance real estate side. It sucks. I do primarily A+ paper FNMA and FDMAC loans and am involved in FHA new construction loans. The best rates lowest fees only. For a few years I did do and still do some sub-prime loans, but that image is also skewered. There are a lot of predatory practices in that field. I don't partake plain and simple. If I have a customer that has junk for credit and verification of income it's their request to have credit granted to them not a solicitation from me. And GT it would be ludicrous to lend them money at the same rate as we may lend it to you predicated upon assets, credit grade etc. Same as on the other hand you should not have to pay 11% when 6% is out there if you have good credit , income and collateral. Thankfully I do mostly A+ paper that is underwritten by computer models and as I say the lowest fee structure in the business. I see and realize the protection some of the fraternal organizations give and gave the common worker through benefits and insurance. And I see the benefits. Yes GT at times my posts may be derisive but look in the mirror please. Its a two way street. You get more with honey than vinegar and I say why don't you try it? Now as a starting point and a potential agreement in compromise we each or at least I need to keep our correspondence shorter or would prefer to keep it shorter. You have valid points about the lending business and insurance so let's each not paint with such a broad brush please. You?, Tom