October 13, 2007

When a Ponzi Scheme ends, the easy money goes away, and the con men, promoters & speculators have gone home, this is what you have left


“Kelly Markham earned $200,000 in commission in 2005 as a loan officer at an Irvine mortgage brokerage. When commissions dried up, she began looking for another job to support her six-month-old baby and hang on to her $600,000 home.”

“‘I’ve signed up for work at a temp agency, but all I’ve gotten is five hours of work in the past four weeks stuffing envelopes in some office,’ said Markham, as she perused Starbucks job listings online one recent afternoon.”

45 comments:

Anonymous said...

JUSTICE!!!

Anonymous said...

http://tinyurl.com/2x5pvz

Looks like all the CFC employees are doing mozilo & dumping there wristbands on ebay!!! Its just going to destroy their value, but hell thats a tradition at CFC and heck they do have to eat too!!! One wristband right now will still get you enough ramen to last a month!!

trailer flipper said...

She can make $35.oo an hour pan- handling, and she will not need a babysitter.

AlexA said...

Sorry, can't feel sorry for someone like this. $200K in commissions for one year? Yeah. Suck it up.

Edgar said...

Markham can friggin' kiss my a$$. $200k and her only skillz are that she knows how to be a brain dead twit? I hope this happens to people like her over and over and over times infinity. Start licking those envelopes, you need to lick a bunch to pay over a half a million dollar mortgage moron.

Anonymous said...

She can make $500 a day stripping

Anonymous said...

She'll go from $200,000 a year to not making another $200,000 in her lifetime

Anonymous said...

trying to feel sad for no talent twits making 200k selling poison loans which ruin lives...

...not working.

nfn.nln said...

Looks like all the CFC employees are doing mozilo & dumping there wristbands on ebay!!

nfn.nln said...

Looks like all the CFC employees are doing mozilo & dumping there wristbands on ebay!!!

That's the funniest thing I've seen all day. I think I'll make a bid. I want to own a piece of history :)

nfn.nln said...

Damn, what was I thinking. I guess I just got caught up in the euphoria. Someone please outbid me, hahahah.

Anonymous said...

Anonymous said...

trying to feel sad for no talent twits making 200k selling poison loans which ruin lives...

...not working.

October 13, 2007 11:45 PM
--------------
Agreed. JUSTICE

Anonymous said...

I live in South Orange County, California where every other person in my community made money as loan brokers or real estate agents. Plastic faces, fake enthusiasm, shock and awe- they spend their free time getting fake tans sprayed on or botox pumped into their frozen faces. These people are dumb. They have no idea how bad it is going to get and that their lame careers are over. I don't have an ounce of sympathy. I'm looking forward to getting my coffee served by one of these losers.

Joe Logic said...

Back when I was living in Las Vegas, I used to hang out at this one bar on Fridays and weekends. I remember this mortgage broker type would come around too. A real first-class arrogant prick that had a some BMW SUV with license plate "MORTG4U" or something like that. He was one ugly dude, but he'd also way seem to have a different lady friend (despite being married). I never gave it thought at the time as it was 2004 before all the bubble talk began, but they were probably junior loan officer bunnies looking to sleep their way into the action.

Anyway last time I was in Vegas a few months back, I asked the bartender whatever happened to that guy. I guess it turns out he lost his job after the bubble pop and the money stopped flowing in, one of the his sluts went psycho and the wife found out. The wife though was kinda going along with it cause the money was so good, and now is suddenly "distraught" at the infidelity. So basically the dude has no wife, no more side p@ssy, no job, no money, probably had the beamer repo'd, not to mention no dignity. So basically, a happy ending.

(PS - wouldn't be surprised if he trolls this blog)

Anonymous said...

""Out here, there aren't too many who have seen that side of life, where there's no Christmas because Dad's been laid off," Ventimiglio said. "For them, this is emotionally traumatic. Anybody under 40 has not seen a real tough time.""


Guess what? It's gonna get A LOT WORSE in Orange County before it gets any better.

SUCKERS !!!!

Anonymous said...

Now you know why the lenders and builders are going bankrupt. They were paying envelope stuffers $200,000/yr. All of those profits went to unskilled, braindead twits who wasted all of it on plasma tv's, Hummers, vacations and overpriced homes. She and her kid will be living in Section 8 housing by next year.

I'm happy to be making a steady income with my graduate degree. When they shut down the state universities, then I'll be out of a job.

Anonymous said...

three words:

shaw
den
froid

joe 71 said...

What's she doing buying a $600K place with such a dynamic income? She could easily be renting a nice place for $2000/month and be sitting pretty. I'm in sales and I've been doing OK but I wouldn't make any decissions based on my best-performing year.

Anonymous said...

This stupid bitch could of cared less about talking the talk and pushing dope buyers into homes they couldn't afford to make that 200k . I hope she never gets a job and the FBI finds out she changed the loan applicaions . Also I hope she gets sued for giving investment advice to borrowers and lied to them by telling them they could refinance out of the crap loan she pushed these dopes into .

Anonymous said...

Too bad - So sad....


ps, I'll have a double espresso to go with my popcorn

Russ said...

I hadn't been toa strip club in 9 years, and when back in Detroit this summer July I visited one with my pal. Inside, 2 of the ~9 girls were telling me they were realtors. I just can't get that junk out of my head.

The folks in Cali didn't seem to worries about supporting teh Domestic Auto industry when they could get a car they liked better elsewhere...

So now Im supposed to feel sorry for Cali mortgage brokers who sell mortgages of the Countrywide toxic flavor?

Anonymous said...

Blood money

Anonymous said...

You're breaking my heart Kelly, now where did I put that violin...

Anonymous said...

How much of that 200k do you think she saved last year? I would be that she is actually in debt (ignoring auto and home loan).

Anonymous said...

Difficult to feel sorry for her.

I spent time in the military to pay for college. I then graduated with an degree in engineering. At the peak of the internet bubble I knew a guy with a GED that was making 100k/yr in as an IT contractor while I was just approaching 100k. Now as I am approaching 200k I hear that mortgage brokers are making 200k with their only qualification being able to fill out the loan paper work. Well, she will go back to working at Starbucks while I push on past 200k/yr. I guess hard work does pay in the long run.

What will be the next bubble (other than gold and oil)?

Anonymous said...

Are they the same kind of envelopes that killed George Costanza's girlfriend on Seinfeld?

Tyrone said...

I just read that article and was sickened. But what is actually understandable is that she didn't save anything, and she will lose her home. She was too stupid to consider that it might all end; that she might lose her job; that she might be making far less one day. And she probably lived beyond a $200K income.

turdly said...

I have a new theory; If you have taken cash out of your home and spent it on life, divide the number of years you´ve been in your home by that amount of money. The money amount you come up with after the division is exactly how much you´ve failed every year since you bought the home.

You live by your worst year, not your best.

There's nothing wrong with stripping. There's nothing wrong with prostitution. There is something really wrong with a one shot wannabe like this who drinks the koolaid and bought that house.

Anonymous said...

I have noticed many new girls on CL offering their wares. Prices are still too expensive, but some pretty cute girls can be had for <$150 these days.

Anonymous said...

CFC -> KFC

keith said...

You have to believe that some of the worst stories of greed and living beyond your means are found amongst the REIC

Like coke dealers who do coke.

Like blackjack dealers with gambling problems.

The REIC is made up mainly of dumb people who couldn't make it in real jobs so they took a couple of laughable tests and BOOM, they're "real estate professionals"

But these same dumb people who didn't understand economics or history did make a killing 2002 - 2005, like this $200k a year lady. But being dumb, did they save it? Nope. They rolled it into their own product and bought homes they couldn't afford with mortgages they shouldn't have qualified for.

And then the music stopped, they lost their careers and now they'll be losing their houses.

And that's just the way the world works.

From $200,000 a year doing nothing living in a $600,000 house to licking envelopes for 2 cents each living in a homeless shelter.

Anonymous said...

loan officers should need to pay back commisions for loans if the buyer defaults before a certain amount of time.

Something like this should be the law: loan commision is in escrow and is broken up into 12 parts. Every quarter the borrower's payments are current, the loan officer gets one twelfth of their commision (with interest). repeat for 3 years if the borrower is still current. For loans that adjust higher, the commision period extends to 3 years past the point when the loan adjusts, being proportianal to the amount of the payment being made

Frank@Scottsdale-Sucks.com said...

LOL ... she's probably not even qualified to work at Starbucks ... that job provides a lot more thinking and sales ability than saying to some bad-credit deadbeat "I can get you approved for a loan."

I don't know how anyone thinks they can make a living without providing value in one way or another.

In the real world, you only earn in direct proportion to the value you provide.

That is why laziness and ponzi schemes collapse in the end (get paid for no value), and it's also why socialist rubbish like welfare and nationalized healthcare also collapse (again, people getting paid for no value).

Anonymous said...

Why is anyone surprised at the stupidity. I know of one Loan officer in rehab, another on probation and still more with coke habits. Easy money attracts the dregs of society looking for a quick buck. It sickens me to know how much many have made these past few years compared to the honest hardworking people that couldn't do the things that these parasites have done to their fellow man. I eagerly await the day that the LO position is replaced by data entry and computer algorithms. Don't even get me started on agents.

Yoski said...

What does the out of commission no talent realtor say to the renter?

"Do you want fries with that?"

The_Scum said...

There is going to be a lot of good looking pussy available very soon. It has already started.

Good looking plus surgically enhanced pussy with mountains of debt and absolutely no future looking for a man to fuck and suck senseless to save them from a worthless life of mountains of debt.

Be very careful.

Anonymous said...

Don't worry everyone, the Democrat Bailout Plan of 2007 will make sure she keeps both her house and her income for life.

VOTE DEMOCRAT!!

Trailer Flipper said...

My school teacher friend's loan officer husband is now a taxi driver, and she is really happy because he brings money home every day again, rather than working for free with her paying the bills like he had for the last year.
She almost left him when he wanted to apply at countryslide, until I told her not to let him ruin her life any longer.
He loves being a cabbie now and she is a happy wife.

Anonymous said...


Good looking plus surgically enhanced pussy with mountains of debt and absolutely no future looking for a man to fuck and suck senseless to save them from a worthless life of mountains of debt.


I already met one and plan to meet many more in the coming years. Use them and throw them aside. When you're looking to settle down, find yourself a smart girl who can make money as a real professional, not a prostitute or REIC junkie.

bob said...

[sarcasm on]

Hey, she only bought a house 3x her income - what's the big deal?

Give the lady a break, it's hard work adding those extra zeroes to applicants income statments!

[sarcasm off]

From the article:

Brofman said. "It's mean to say, but I used to joke that I could get my cat on the phone to sell a loan and a rate: 'Meow, meow, 5 percent.' Done."

Of course, some cats are pretty smart.

Anonymous said...

Dang, that's good thinking there 2:56. If I were single I'd say it's time to start trolling 30-something bars in OC. I bet the mortgage whores are out there looking already and showing as much of the implants as they can to try and reel in a lifeline...

Anonymous said...

You know, Keith, I hate real estate agents as much as the next guy. Actually, probably more, because, as an escrow officer, I have to work with them. The REIC has received a deserved bad rap over the last few years, but to call all of us "dumb people who couldn't make it in real jobs" is rude and ignorant. I'm not a realtor, but I do have a REIC job that I'm proud of. I went to college (who cares, though?) and do a damn good job at what I do. Most people could not do what I do, especially a "dumb person who couldn't make it in a real job." In fact, nearly everyone I know in REIC-ville is a pretty smart person. Realtors are the exception, and I think it's a bit rude and unfair to paint the rest of us with the same brush (and kind of makes you look like the idiot).

Otherwise, spot on.

True story: I know two gorgeous women who married mortgage brokers in the last couple of years. They are both filing for divorce after their husbands went from six-figure incomes to six-figures-counting-to-the-hundredths incomes. Of course, Frank would tell you how ugly they are being that they live in Phoenix, but whatever... to the_scum and the other guy who commented, it's all so true - it's open season for REIC sloppy seconds.

Anonymous said...

150 fpr hookers= 125 percent inflation in 4 years.....

Anonymous said...

simple tests? Ive been driving accident free for 40 years and quite a few crosscountry miles every year... and I failed the drivers written test??????? gotta try the citizens test. as i was and am a voracious reader?//

Anonymous said...

Bailout???? I thought Sen. Craig was saying bend over...mr. wide stance.....got set up?