Case Studies

Ownit

This case study is about a mortgage company in the 2000s; a decade that saw the highest highs and lowest lows of anyone’s lifetime in the business. It is about a non-agency mortgage product, a type of loan more commonly known as subprime. It is about an intimate business relationship with a Wall Street giant who was later seen in a shotgun wedding with America’s biggest bank (you didn’t want to catch that bouquet). It is about a corporate bankruptcy. In other words, this case study is a success story.

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Mary Kate and Ashley Olsen

America fell in love with Mary-Kate and Ashley Olsen when the twins jointly played Michelle Tanner from 1987 to 1995 on the television program Full House. I have warm memories of the girls not simply from their TV escapades with the Tanner family of San Francisco, but from their life with their real family, the Olsens of the San Fernando Valley. Their father, David Olsen, is my longtime colleague in the mortgage industry.

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Interthinx

The origination of a home loan fundamentally changed as savings and loans, commercial banks and independent mortgage bankers began to outsource the expensive and highly-regulated relationship with the consumer to a cadre of mortgage brokers. By the mid-1990s, independent mortgage originators were taking approximately 70% of all applications.

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First Franklin

With a measly $10,000 in savings, I founded First Franklin with my brother Steve in the basement of a restored Victorian home at 743a Franklin Street in Santa Clara, California. Interest rates were in the high teens and home prices were falling into a nasty recession. The Dallas boys were just smart enough to ignore macroeconomics and focus on the opportunity of building an independent mortgage finance company.

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