What happened in the mortgage meltdown?

Over the last decade, millions of American’s experienced the joy of not only owning a home, but the desperation that comes along with losing a home, as well.  Losing a home in the middle of a recession dealt millions of Americans the pain of not only being homeless but also jobless. This moral demise affected the majority of our American families and will continue to effect our younger generation, as we attempt to right the ship.  Learn the lesson.

What happened to the American Dream and better yet, who is responsible for its demise?! With so many risk controls supposedly in place from traditional Risk Management companies, how could this happen?  In a society so flush with large companies and their associated corporate managed checks and balances; how could this happen?  Large companies with professionals in suits and ties who promised the American consumer trust and integrity, how could this happen?  If you reap the rewards of quick hit profits and have no accountability, it will eventually catch up with you, no matter whom you are or how big you are.  There are lessons to be learned from every life experience and the mortgage meltdown is no exception.  Learn the lesson.

RIM’s President experienced the red tape of working for one of the largest companies in the world, first hand. Our RIM President saw first hand that the mortgage paper obtained in sub-prime lending was either fraudulent or non-existent and reported this to executive management on Wall Street.  While everyone was flying at 20,000 ft and counting their corporate profits, standard risk controls were failing at every level. Accountability standards we not applied, and those who engaged in unscrupulous business practices were allowed to prevail and walk away with large sums of cash. Millions of American families were left holding property that was either over-valued, or in mortgages that they could not afford.  Learn the lesson.

Many mortgage and financial executives did not want to acknowledge that their risk controls had failed. The big corporate dogs had experienced first hand that even the most successful of American companies internal risk controls can fail or be over looked.  One of the glaring lessons learned that resulted from the mortgage melt down is that risk management approaches can no longer fly above the ground at 20,000 feet.  We realized the importance of understanding what is happening on the front line, and at ground level. We must also have the fortitude in the middle and upper ranks to shake the bushes even when no one else cares to listen. Risk management has an ethical obligation to maintain its “Risk Integrity”:  Never compromising truth in order to gain financially.  Learn the lesson.

RIM, Risk Integrity Management, not only understands this code of ethics, but places the practice of integrity at its core. RIM understands the responsibility to maintain its integrity, while also keeping its eyes wide open to the ever changing landscape of risk management. RIM doesn’t fly at 20,000 ft. and hope the system works.  We are on the ground level working with you and implementing new accountability standards and new risk control platforms at every level of your companies morphing risk.  Foresight is having the ability to see prior to experiencing its effect.  Revolutionary RIM techniques and programs offer you the foresight you need to minimize your loss and increase your bottom line.  Learn the lesson – let RIM show you how.

One Response to “What happened in the mortgage meltdown?”

  1. Sally Acerman says:

    What a great article! It’s unfortunate greed and lack of integrity caused such heartache for so many innocent people. You are right on with what you say flying at ground level.
    Thanks for your insight RIM!
    SAcerman

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