It's refreshing when members of a certain profession really step up and call a spade a spade.
In the United States of America, a head of real estate agents, used car salesman and ambulance-chasing attorneys, mortgage lenders are now attempting to blaze their own path to the top of the list of the most hated and distrusted professionals in the country, if not the world.
But why? What on earth could cause mortgage consumers to become so unhinged?
Well, don't take it from the Rancid Truth Blog. Read on from the Reuters' article today that included comments from Ms. Jillayne Schlicke, an eloquent mortgage industry veteran, and head of an organization called The Ethical Lending Foundation.
Interestingly, if you happen to visit the Ethical Lending Foundation's website, you'll notice that one of the first little things you can click on is called a "Code of Ethics".
Ms. Schlicke has tried in vain to train and instruct mortgage lenders, real estate agents and even real estate consumers of the importance of following ethical conduct.
Some damning quotes from Ms. Schlicke in the article about the current state of affairs within the mortgage lending industry:
"We're in ethical chaos in mortgage lending,"
"It's going to be a long road to climb out of that gutter."
When will they recover?