TUCSON, Ariz. - There was a swagger in the walks of many executives
Home equity lenders are seeing tremendous growth in their market. And
"Obviously there is something very exciting going on our industry," said
C. Stuart LaDow, a consultant and longtime player in the home equity
"We wouldn't be enjoying the interest and attention if business wasn't
He predicted that the good times would continue.
"This industry will continue to prosper because it is smart to have a
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Jim Tunney, a longtime referee in the National Football League and now a
Instead of the National Second Mortgage Association, he said NSMA might
He told war stories from his days as a referee, in addition to giving
"I don't think we sell anymore," he said. "We build relationships."
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Golf was the all-encompassing issue at this year's conference. Tucson
The sport was mentioned at just about every conference session. Greeting
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George Nicholas, chairman and chief executive at Industry Mortgage Co.,
"We abhor foreclosures just as much as Fannie Mae does," he said.
He said home equity lenders must diligently maintain the better name
"The B or C customer is nothing more than a credit blip in that
He said conferences like NSMA's helps other lenders see "the merits of
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Alan Turtletaub, founder of the Sacramento, Calif.-based The Money
He helped form NSMA 21 years ago.
On Friday, Mr. Turtletaub, a grandfatherly man with a strong handshake
"I thank you for getting into an industry that has got to grow," he said
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Networking was raging this year, as usual. Home equity lenders, a chummy
"There are many deals going on," said one top executive. "Portfolios (of
Marc Turtletaub, chief executive of The Money Store, did not show up at
Among the chief's first questions: "Do any business yet?"