Posted To: Pipeline Press

One never knows when the subject of mortgage banking will pop up - like yesterday. There I was at the Sundance Ski Resort (the one owned by "Bob" Redford) with my son. (He was there to snow board, I was there trying to figure out an opening paragraph for today's commentary.) I had my 2008 Mortgage Bankers Association canvas computer bag, with "Freddie Mac" printed on it, when up walked a fellow who started asking me about it. It turned out that he is the son of David Glenn. Mr. Glenn was ousted from his job as president and COO of Freddie Mac in 2003, over six years ago, pre-bubble. It turns out that he is doing the same thing now that many other mortgage folks are doing: buying and flipping distressed properties - probably here in Utah. Look, just because the kids are...(read more)