From my mortgage lender friends

Hello!

In my excitement about the events of today, I forgot to post about a turn of events that my lobbyist co-hort, Mark Nelson, is watching very closely.

It seems that the "advocates" for homeowners and workers have caught on to the fact that the predatory mortgage lenders are using a "by all means necessary" tactic to kill SB 965, the Oregon Home Loan Fairness Act.

They are urging people to contact lawmakers in support of this bill.

Look, I know they are stretching the truth a bit. But friends, you've heard the adage: "If you have the facts on your side, pound the facts; if you have the law on your side, pound the law; if you have neither the facts nor the law, pound the table."

Frankly, we don't have the facts or the law on our side. Anyone who has been paying even the slightest attention knows that the subprime mortgage lending market is in a free-for-all and SB 965 is Oregon's best chance to freeze the meltdown.

And that's exactly why we are in "pound the table," mode. We can't let the facts get in the way of what's best for the industry.