Category Archives: mortgage

Online Mortgage Pioneer Dies at 53

I was saddened to learn of the recent passing of Warren Hitesh Myer. For those who never met him, Warren was one of the true pioneers of the online world of real estate. He probably originated the first online mortgage in 1992, and founded Myers Internet in 1995.

I moved to San Jose, CA in 2000 to work for Myers Internet, my first web related job. We sold hosted websites to real estate and mortgage companies and generated online leads through sites like BestRate.com, Loanapp.com, and MortgageFAQ.com. Applying for a loan on an SSL encrypted website seems pretty pedestrian today, but this was some cutting edge stuff 20 years ago. Warren was one of the key guys driving the adoption of online loan applications.

 - Lenderama.com, powered by Myers, circa 2001

Lenderama.com, powered by Myers in 2001

My experience at Myers Internet drove me to acquire the URL, lenderama.com. I had NO IDEA what to do with it. I just knew I had to have a professional, online presence moving forward.  For a while, lenderama was mapped to a Myers-powered mortgagefaq.com site. Later, when I returned to wholesale lending, I used lenderama as a client resource repository. In 2005, it became my blog.

In retrospect, I owe quite a lot to Warren. He was the catalyst that helped change the course of my career. I sold lenderama.com in 2009, but still feel a connection to the mortgage world through the relationships built through that site.

Over the years, I have had a few opportunities to reconnect with Warren. He was a regular attendee at Inman Connect in San Francisco and fairly active on social media. I was always eager to hear his thoughts and recently connected him with a lending/data startup in the Bay Area.

Like many habitual entrepreneurs, Warren was the single wage earner in his family and did not have life insurance. He is survived by his wife, Suki, and four step-children. Please consider donating to the Warren Hitesh Myer Memorial Fund. I would really appreciate anything you can do for them.

R.I.P. Warren Hitesh Myer.

Blogger Spotlight; Larry Cragun

How much do I enjoy Larry Cragun’s blog? Well, it’s been a part of my bookmark tool for well over a year. I not only read it, I recommend it! Larry is yet another multi-blogger with blogs about mortgages, real estate, his local market, and is a building network of local blogs. Larry was yet another blogger I was delighted to meet in person at Inman. Here’s your chance to get to know him as well.

Hi Larry, What inspired you to create both Real Estate Undressed and Mortgages Undressed?

At first I wanted to provide the consumer my strong opinions about the mortgage process. I realized people love to search for homes on the internet and felt it would be valuable if I could inject some education on the mortgage process. A couple of weeks later I started the real estate blog. I was advised to do them both on one blog and probably should have taken that advice.

Why did you create two separate blogs instead of one?

I wanted to make the point there are two important real purchase topics; real estate and mortgages. I have expertise on both and felt I could offer a meaningful voice. Continue reading

Blogger Spotlight; Todd Carpenter

I bet at least a few of you thought I was going to interview myself. I’m not that vain. However, Dustin Luther of Rain City interviewed me way back in December of 2005. I thought it would be fun to share as his questions as ther’re what gave me the idea for the interview series here.

One note. In a full circle sort of way, the answer to Dustin’s question, “What is the one tool or feature that you wish your site had?” came to fruition. Once I built that search engine, it inspired me to create REMBEX. REMBEX then lead to this blog.
Anyway, it’s kind of neat to look back.

Blogger Spotlight; Morgan Brown

I wish Blown Mortgage didn’t exist. Not because it’s author, Morgan Brown, has acted in anyway unethical, irresponsible, or sensationalistic. No, I just wish the mortgage industry wasn’t giving him an abundance of negative material to write about in the first place. Morgan’s blog is an excellent example of responsible advocacy that has evolved into a bit of an unintended business model.

Hi Morgan, what inspired you to create Blown Mortgage?

I created Blown Mortgage with the same inspiration that led me to start New Day Trust Mortgage. I have always been a big believer in consumer advocacy. I believe that business should help the American public first and profit second. We try to do that every day with New Day Trust Mortgage; but it is very difficult to reach that level consistently across a big organization, particularly in situations as complex and emotional as home financing transactions. In addition, people tend to be very leery about anything that comes from the corporate megaphone of a mortgage company. Trying to get the consumer advocate position across in a corporate communication is limited in its effectiveness as people have built up a large distrust towards our industry. Continue reading