Trump on the Housing Market 2006

[FillJackson]

[I]In the spring of 2006, the tycoon hosted a glitzy event at Trump Tower to introduce Trump Mortgage LLC, (https://www.washingtonpost.com/politics/trump-mortgage-failed-heres-what-that-says-about-the-gop-front-runner/2016/02/28/f8701880-d00f-11e5-88cd-753e80cd29ad_story.html)a new firm that specialized in selling residential and commercial real estate loans. He devoted a floor of the Trump Organization headquarters at 40 Wall Street to the new business. And his picture appeared atop the company website with the instruction:

[FillJackson]

Trump's mortgage company to focus on Florida

Donald Trump's latest venture, Trump Mortgage, plans to aggressively seek market share in Florida, including at least six offices statewide and acquisitions of smaller mortgage businesses.
That's according to E.J. Ridings, the president of New York-Based Trump Mortgage. "Last year, this industry did $3 trillion, so it's huge and there's no clear-cut leadership," he says. "There's enormous opportunity to help improve and lead on a national level." Craig Lane has been tapped to run oversee the Florida offices, the first of which will be in South Florida. "We should have those rolling out in six months," Ridings says. Trump Mortgage will offer financing products from residential to commercial, luxury to construction.

Ridings indicates he has already heard from many small mortgage operations hoping to be considered a partner to the new company.
Steve Schneider, a Miami-based broker who is president of the Florida Mortgage Brokers Association, notes that mortgage companies and lenders are tending to let people go because rates are going up, leading fewer people to refinance. In general, there's less business than there was a year or two ago (http://www.bizjournals.com/orlando/stories/2006/04/24/daily8.html), he says.

[Nick Young]

:roll: :roll: :roll:

Your desperation is showing, bro.:cheers:

[9erempiree]

Mortgage buisiness?:rolleyes:

[FillJackson]

[QUOTE=FillJackson]I think it

[FillJackson]

August 2007 - Trump Mortgage closes (http://www.crainsnewyork.com/article/20070805/reg/70804018/undoing-of-trump-mortgage)


Weak market, grand ambitions, exec's troubles doom firm Donald Trump has pulled the plug on Trump Mortgage less than two years after its launch.

Plagued by bad timing and the disclosure that the firm's chief executive had inflated his credentials in his official biography, the mortgage brokerage never came close to reaching its financial goals. Observers say another reason the company stumbled is that it expanded too quickly, instead of taking the time to build relationships with real estate brokers and lenders.

"You have to walk before you can run," says Melissa Cohn, owner and chief executive of Manhattan Mortgage Co. "You have to do step one before step two, step two before step three--not just come out with a big splashy ad campaign and rise to the top."

[Dresta]

So he was just one of the 99% of people that were drinking the government koolaid at this time?

What was Ben Bernanke saying about the housing market, even in 2007? And isn't Yellen following exactly the same path as Bernanke? I remember when the few people who warned about the coming crisis were literally laughed off as mad people by economists and pundits. Why do these things only matter in one direction with you people?

Yellen: "Housing crisis was accentuated by Greenspan raising interest rates too slowly"

*proceeds to not raise interest rates for 7 years, and then raises them one or two basis points*

:roll:

[FillJackson]

Late August 2007 - Trump forms another mortgage company.

Trump Allies with First Meridian,

The Trump Organization and First Meridian Mortgage have made an exclusive strategic alliance and formed a new entity to operate as Trump Financial. .............. But, like its predecessor, Trump Financial quietly ceased operations.

[Back In Shape]

Hillary Clinton(and Obama) voted against heavier regulation of Fannie Mae and Freddie Mac in 2006 several times, even though Greenspan and others were screaming at the top of their lungs that making loans too easy to obtain was going to lead to a disaster.

[Terahite]

[QUOTE=FillJackson][I]In the spring of 2006, the tycoon hosted a glitzy event at Trump Tower to introduce Trump Mortgage LLC, (https://www.washingtonpost.com/politics/trump-mortgage-failed-heres-what-that-says-about-the-gop-front-runner/2016/02/28/f8701880-d00f-11e5-88cd-753e80cd29ad_story.html)a new firm that specialized in selling residential and commercial real estate loans. He devoted a floor of the Trump Organization headquarters at 40 Wall Street to the new business. And his picture appeared atop the company website with the instruction:

[nathanjizzle]

ahahh:roll: :roll: