I love shopping at Wal*Mart because I really get to see how a great number of rural Americans live their lives. Usually, I overhear bits of conversations that involve sports, family, and local gossip. Sometimes, like today, I get into a conversation with one of my West Virginia neighbors.
Today as I was returning to my car, I stopped to help an older woman put her groceries into her trunk. When she saw the tag on my car, which was parked next to hers, she looked at my vanity plate (which reads "LOANSTAR") and asked what that meant. I told her I was a mortgage broker, and her reply was, "Oh, so it's your fault."
"Yes, ma'am," I replied, "but not all my fault."
She raised her voice just a tiny bit and scolded, "Well it wasn't my fault at all and I'm gonna have to pay for it!"
Touché! This seemingly average American woman, Joe Sixpack's mom, made the point. She and I and her family and mine will all pay for it. It is this simple and direct observation that should make anyone stop and think before trying to game the system again.
When lenders or brokers fudge some numbers on a loan application, or gloss over certain terms for a borrower; or when a buyer lies about the source of a deposit or accepts a little kickback from a seller; or when any one of countless little wink-and-nod events that happen in the course of business occurs, then someone gets hurt. Someone pays, or we all pay.
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