Hi all,
It's our pleasure to inform you that Mr. George M. Akerly, a moderator and community mentor has set new records through his valuable participation in our forums. So far, George has made more than 6000 posts and earned mentor dollars worth $775 as an active forum participant. We appreciate his efforts in helping people with his valuable opinions on mortgage and finance related issues.We're glad to present here an interview with Mr. George M. Akerly who has shared his experiences and views on the mortgage industry and our community as well. Here goes the interview:
Sam: Tell us about your work and experience in the mortgage industry.
George: I have worked in banking and related industries all of my adult life. I began as a teller at a Savings & Loan, in their Management Trainee plan. I worked my way up the ladder in that organization to Assistant Treasurer/Branch Manager, and ran the Installment Loan Department for about 3 years there.
I next worked as a Consumer Loan Officer at a local bank, moved to another bank where I became an Assistant Vice President, then a credit union as Lending Manager. From there, I moved into underwriting as a Contract Underwriter for one of the major mortgage insurance companies, then briefly underwrote for a now-failed mortgage lender.
For the past 2 and 1/2 years or so, I've been a mortgage loan originator. I've done all sorts of loans, from personal loans, credit cards to auto loans, home equity and mortgage loans. My vast experience has been very valuable to me in my interaction with consumers. I love having the opportunity to work with the public.
Sam: When do you think the mortgage market will recover?
George: I guess I'd say I don't ever expect to see the excesses of the last decade repeated, a lot of which led to the incredible growth of the market to begin with. I've been advised that we have yet to see the majority of the foreclosed properties offered for sale, and that it will be mid-2010 before that happens. We hope that from that point onwards, there will be a gradual decline in those homes, which should have a positive effect on the overall market.
Sam: Will it be wise for a beginner to get into mortgage lending business now?
George: There will always be homes for sale and people needing mortgages. Is it the best career choice right now? Not in my mind, no. Can someone get in during this period of difficulty and make a nice living for years to come? Sure, but it's going to take a lot of work and a lot of being in the right place at the right time.
Sam: Home prices show an upturn in the 2nd quarter, 2009. Do you think it's a turning point?
George: Not necessarily. As I noted in #2, with more foreclosed properties yet to be marketed to the public, we'll still see a lot of depressed values. And, of course, that depends on location – look at the mess in Arizona (which I've only heard about). It's going to take quite a long time, I think, for that market to begin a comeback.
Sam: Do you think the Energy Efficiency in Housing Act of 2009 can help in dealing with the housing crisis?
George: I don't know much about the Act, but I don't think it's going to result in a burgeoning in the market.
Sam: How's your experience participating in MortgageFit Community?
George: I enjoy myself on many different levels. I have a passion for helping people, and find that I'm able to do so in many ways on different levels. I've forged quasi-relationships with a couple of the other "expert" posters, and we can share a laugh on occasion when we see a strange posting. I've been taken the wrong way on some occasions because my style is to be a bit sarcastic at times, though never intended to be harmful. I tend to poke fun at some of the silly things I see, and as you know, I somehow encountered a good bit of animosity in one of the forums this summer.
Sam: What would you change in MortgageFit had you been the Admin?
George: That's not easy to answer. I lack enough computer experience to do something like that, but if available, I guess I'd most like to see the harassing types, the advertisers and the spammers and scammers more easily barred from the site. I know that's probably one of the biggest challenges you must face as an Administrator.
Sam: What's your experience about earning dollars from MortgageFit forum by sharing opinions?
George: I, like most others who join, was pleasantly surprised to see that there was an opportunity to reap a monetary benefit from our postings. It's definitely been a pleasure to be able to "cash in" every so often. I can't say it's given me "walking around money" but it's come in handy, for sure.
Sam: Do you have any blog or site which you want to share with us, so that other members can collect valuable knowledge from there?
George: I do not have one. Whenever I want to know something that I haven't been exposed to before, or if I wish to learn the whereabouts of someone or some entity, or even gain knowledge of a new word or phrase, I use Google. I Google almost everything, and that has led me to numerous sites of all types. For those who read any of my posts, of course, I am constantly citing www.hud.gov and www.irs.com, among others. There's so much information out there for the taking – all one has to do is to have an inquisitive mind and a keyboard to type in the name and “voila!”
On behalf of all members in MortgageFit Community, I thank George for sharing his opinions with us. We look forward to having a long association with George and wish him good luck in all his endeavors.