First:
I started at the new job two days ago. The job feels extremely comfortable, when I was waiting in the lobby for my new hire orientation I ran into a woman I used to work with back when I first started with Countrywide just out of college. To top that off, as I was walking into the conference room I ran into 3 people I knew. My new company feels just like my old one, except with better pay and much better opportunities.
Second:
Thanksgiving is making me fat. We have causal day at work until the office is moved from Calabasas to Moorpark. I wore a collared shirt that would otherwise would have fit well, if I wore it 2 weeks ago. It was way too tight, it made me feel bloated. In the intervening weeks, I really need to watch what I eat. Salad and really, really lean proteins are on the menu.
Third:
Women. I tend to think that women have the same desires and dreams as men, but only in a feminine way. It's easy to put myself into the mindset of a woman to understand the position she will take on a certain issue. There is only one thing that completely escapes my grasp. Women and their relationship with their breasts.
I've spent some time with women as they go to Victoria's Secret to shop for bras, no big deal. I can do this as both the 'friend' and the 'boy friend.' Most of these trips are memorable not because I get to help women try on bras but because they constantly chat about cup size, band width and the like right after they get done shopping. I mean, do men talk about the underwear they just bought? No, they don't because no one gives a shit. I like breasts (what straight man doesn't?) but I don't understand why women constantly need to chat about this trip to Victoria's Secret and what the attendant said that was either right or wrong about your cup size. I just don't get it. But, maybe that's why I'm just a man.
Tuesday, November 29, 2011
Wednesday, November 23, 2011
Changes
Like the awesome David Bowie song my life has been under going some changes. I took a new job with a different company, after 6 years with Bank of America and Countrywide I've finally moved on. I will still be working in Mortgages, I find that I have a particular talent for Mortgage Finance.
I'm happy to be leaving the bank, but in a way I'm sad. I like the people I worked with, and I liked the work. I'm moving from a position of great responsibility to being a cog in the machine. Although, the company I'm going to has been growing in leaps and bounds. I feel like there is a great opportunity for growth.
I have made no major changes to the Condo in the last couple of weeks. I need to save up some coin before I can do the next major overhaul (the bed room). Until then.
I'm happy to be leaving the bank, but in a way I'm sad. I like the people I worked with, and I liked the work. I'm moving from a position of great responsibility to being a cog in the machine. Although, the company I'm going to has been growing in leaps and bounds. I feel like there is a great opportunity for growth.
I have made no major changes to the Condo in the last couple of weeks. I need to save up some coin before I can do the next major overhaul (the bed room). Until then.
Monday, October 17, 2011
Mid-Century Modern
I'm completely exhausted, so I'll keep the post short.
I ordered a mid-century modern light fixture, it finally came today. It took longer than I care to admit to install the damn light fixture. It's a little unbelievable but, standing on the ladder trying to screw in the light plate is quite the work out. I was pouring sweat by the time I had the light installed.
Volia. Instant light.
Inspiration for the week:
A Mondrain painting from LACMA.
I ordered a mid-century modern light fixture, it finally came today. It took longer than I care to admit to install the damn light fixture. It's a little unbelievable but, standing on the ladder trying to screw in the light plate is quite the work out. I was pouring sweat by the time I had the light installed.
Inspiration for the week:
Monday, October 10, 2011
Lamps and Modernism
I've been sick as a dog the last week. I came down with strep throat on Tuesday. I had to go to Urgent Care on Friday to pick up some antibiotics for my disease. I was running a light fever for 5 days, it wasn't until last night that my fever finally broke, I could finally swallow with no pain by this afternoon. It's a helluva way to spend a 3 day weekend.
At any rate; I bought a new entry way lamp at 'Rejuvenation' which is a pretty cool store if you're looking for replica lighting. I got a globe light called Sfera 16, it should fit pretty well with the look of the rest of the condo. I'll post pictures when I install the light (it has to come via mail in 2 weeks).
Over my sick time, I've watched two documentaries on Modernism. The overriding theme of both was that modernism, is/ was dreamed of being a new way of living in the machine age. Modern construction and design could enable men to live better and more fulfilled lives. Somewhere, between the failure of Vietnam and the election of Reagan, we lost track of that ideal. In recent times, I think Modernism is in comeback mode. I think the democratic optimism fits well with America's current political and social environment.
At any rate; I bought a new entry way lamp at 'Rejuvenation' which is a pretty cool store if you're looking for replica lighting. I got a globe light called Sfera 16, it should fit pretty well with the look of the rest of the condo. I'll post pictures when I install the light (it has to come via mail in 2 weeks).
Over my sick time, I've watched two documentaries on Modernism. The overriding theme of both was that modernism, is/ was dreamed of being a new way of living in the machine age. Modern construction and design could enable men to live better and more fulfilled lives. Somewhere, between the failure of Vietnam and the election of Reagan, we lost track of that ideal. In recent times, I think Modernism is in comeback mode. I think the democratic optimism fits well with America's current political and social environment.
Tuesday, October 4, 2011
The Month that Was, part II.
I've been meaning to write a blog post, but I just haven't had a whole lot of time to do so. I'm home sick today, so there's no better time to do a full blog post.
In the last month I've gone to Sacramento for a wedding, to Philadelphia for another wedding. There was a huge art show opening in LA for Modernism in LA between 1945 and 1980. I've also had a chance to complete the book case and do some other work on the condo.
Arnaud was kind enough to create the book cases for me, he cut them and placed them into the condo. There was a huge amount of dust in my condo from the buzz saws and sand paper. I'm still digging myself out of the dust created by the saws.
I went to Philly to see Ben and Marissa get hitched. It was a great time and a much needed (mini) vacation.
The big news in Los Angeles is the opening of the region wide "Pacific Standard Time", last Sunday LACMA had free admittance in celebration of this region wide event. LACMA had an exhibit on California Modernism. I've attached some photos of my favorite items in the collection.
The exhibit's byline is "Living in a modern way", to me, that's what modernism is all about. It's an embrace of past and an acknowledgment that design can be harnessed to create a more humane and democratic future.
In the last month I've gone to Sacramento for a wedding, to Philadelphia for another wedding. There was a huge art show opening in LA for Modernism in LA between 1945 and 1980. I've also had a chance to complete the book case and do some other work on the condo.
Arnaud was kind enough to create the book cases for me, he cut them and placed them into the condo. There was a huge amount of dust in my condo from the buzz saws and sand paper. I'm still digging myself out of the dust created by the saws.
The big news in Los Angeles is the opening of the region wide "Pacific Standard Time", last Sunday LACMA had free admittance in celebration of this region wide event. LACMA had an exhibit on California Modernism. I've attached some photos of my favorite items in the collection.
The exhibit's byline is "Living in a modern way", to me, that's what modernism is all about. It's an embrace of past and an acknowledgment that design can be harnessed to create a more humane and democratic future.
Wednesday, August 31, 2011
Bank of America and the Great Abandoning
The rumors finally come to fruition; Bank of America has announced they would be exiting the Correspondent Lending business. I couldn't be more disgusted with Bank of America in how they handled this whole situation. The whole announcement was completely fucked from the minute the lower level employees found out about the Bank's decision.
I got a text message from a co worker late last night, my buddy had read a short article in the Wall Street Journal that stated, simply, "According to high placed sources, Bank of America is planning to sell or exit their Correspondent Lending Division." I couldn't find that article last night (in my defense, I was really tired).
When my buddy and I arrived in the office this morning, we found an e mail blast from the President of the Home Loans Division in our e mail boxes (time stamped 1 AM) that stated (again, very simply) Bank of America has made plans to sell or wind down (put out of business) the Correspondent Division. "We do this to further align the to the Bank's core business interests. Furthermore, despite this decision, we will continue to deliver for our customers." Bullshit.
The office just took on an immediate atmosphere of gallows humor. No one was working, business as usual was not the order of the day. My frustration was further ignited when we had an 'All Hands Call' with our Division Chief who said something like the following:
"We didn't want to announce the wind down like we did today, our hand was forced by the Media. Please don't believe what the Media stirs up." Fuck him. Like, the Wall Street Journal was rumor mongering when some high executive in Bank of America told them that they would be shutting down Correspondent. Here's my problem on how this announcement was handled
#1: The Announcement Itself. It says this:
We intend to sell the correspondent mortgage lending division or, if a suitable deal is not identified, we will consider other options, including winding down the correspondent lending business in an orderly manner. At this time, our correspondent lending operations continue business as usual.
The Bank just telegraphed their absolute desire to fire sell Correspondent or they would wind down the business. This frightens the shit out of their employees, everyone I know is updating their resumes. Worse yet, the suddenness of this announcement has given no one time to prepare for unemployment.
#2: The Lies. Our Chief said the Media forced his hand. If the Media didn't report this 1,800 people would find themselves out of jobs when the Bank decided to close the division. What the Bank should have done is told it's employee as soon as an offer was put out to sell corespondent that they were doing so, just so people can prepare for job loss.
They needed to do this for several reasons. Their responsibility to their employees. I know two Account Executives with young families, Tom's wife is pregnant with their first child. Chris has two young kids. Both will find themselves out of jobs after January 1st (the date when the Bank will stop buying loans). They should have been given time to prepare for the job loss. The Bank has a responsibility to their clients who rely on the Warehouse Bank's line of funding to do loans. This division is under Correspondent and will also find themselves out of a funding line, and for several of our clients, our Warehouse is their major source of funding. If they don't find another line soon, they could find themselves out of business.
#3: Killing the Golden Goose. Correspondent is responsible for 50% of the Home Loan's division's net revenue. It was a huge money maker in the old Countrywide days. This unit had multiple Clients who were paying the Bank for losses on legacy loans they sold to the former Countrywide. I work in the department that analyzes and collects these losses, how the fuck are we now supposed to collect on Clients who now have no business relationship with the Bank. What leverage do we have to collect on these losses now? Did they not THINK about that when they decided to wind down our Division?
My frustration and disgust with the Bank has reached a new high. I should mention that my department is safe for the time being, we are (effective immediately) being moved under Legacy Assets and we will continue to collect until, well, they Bankrupt the Countrywide Trust and end all Legacy Asset servicing. That would open a whole new can of worms. My job is safe for now, everyone else is screwed.
I got a text message from a co worker late last night, my buddy had read a short article in the Wall Street Journal that stated, simply, "According to high placed sources, Bank of America is planning to sell or exit their Correspondent Lending Division." I couldn't find that article last night (in my defense, I was really tired).
When my buddy and I arrived in the office this morning, we found an e mail blast from the President of the Home Loans Division in our e mail boxes (time stamped 1 AM) that stated (again, very simply) Bank of America has made plans to sell or wind down (put out of business) the Correspondent Division. "We do this to further align the to the Bank's core business interests. Furthermore, despite this decision, we will continue to deliver for our customers." Bullshit.
The office just took on an immediate atmosphere of gallows humor. No one was working, business as usual was not the order of the day. My frustration was further ignited when we had an 'All Hands Call' with our Division Chief who said something like the following:
"We didn't want to announce the wind down like we did today, our hand was forced by the Media. Please don't believe what the Media stirs up." Fuck him. Like, the Wall Street Journal was rumor mongering when some high executive in Bank of America told them that they would be shutting down Correspondent. Here's my problem on how this announcement was handled
#1: The Announcement Itself. It says this:
We intend to sell the correspondent mortgage lending division or, if a suitable deal is not identified, we will consider other options, including winding down the correspondent lending business in an orderly manner. At this time, our correspondent lending operations continue business as usual.
The Bank just telegraphed their absolute desire to fire sell Correspondent or they would wind down the business. This frightens the shit out of their employees, everyone I know is updating their resumes. Worse yet, the suddenness of this announcement has given no one time to prepare for unemployment.
#2: The Lies. Our Chief said the Media forced his hand. If the Media didn't report this 1,800 people would find themselves out of jobs when the Bank decided to close the division. What the Bank should have done is told it's employee as soon as an offer was put out to sell corespondent that they were doing so, just so people can prepare for job loss.
They needed to do this for several reasons. Their responsibility to their employees. I know two Account Executives with young families, Tom's wife is pregnant with their first child. Chris has two young kids. Both will find themselves out of jobs after January 1st (the date when the Bank will stop buying loans). They should have been given time to prepare for the job loss. The Bank has a responsibility to their clients who rely on the Warehouse Bank's line of funding to do loans. This division is under Correspondent and will also find themselves out of a funding line, and for several of our clients, our Warehouse is their major source of funding. If they don't find another line soon, they could find themselves out of business.
#3: Killing the Golden Goose. Correspondent is responsible for 50% of the Home Loan's division's net revenue. It was a huge money maker in the old Countrywide days. This unit had multiple Clients who were paying the Bank for losses on legacy loans they sold to the former Countrywide. I work in the department that analyzes and collects these losses, how the fuck are we now supposed to collect on Clients who now have no business relationship with the Bank. What leverage do we have to collect on these losses now? Did they not THINK about that when they decided to wind down our Division?
My frustration and disgust with the Bank has reached a new high. I should mention that my department is safe for the time being, we are (effective immediately) being moved under Legacy Assets and we will continue to collect until, well, they Bankrupt the Countrywide Trust and end all Legacy Asset servicing. That would open a whole new can of worms. My job is safe for now, everyone else is screwed.
Monday, August 29, 2011
Revenge is a Bad Yelp Review
This week is the most important week of my professional life. We had a major Client come to the office for a visit today, we proposed a huge (and very creative) settlement. Without explaining too many details, we are structuring the agreement in such a way that the Client will not have to disclose a huge loss to their balance sheet (GAAP rules state that you must declare a reduction in your Net Worth when you have a 'realized' loss). If the Client had to realize that loss as they normally should then they would be out of business tomorrow.
On top of that, I have a big interview with a local (up and coming) Mortgage Company. They want to discuss 'Career Opportunities' with me; I take this as a very good sign, I've never had a company ask me to interview for available opportunities. This could be a game changer.
The Loft is coming along, I completely failed to find new hanging pendants for my track lighting. I went to a place in Thousand Oaks called Thousand Oaks Fans and Lighting. Well, in order to not type this out twice here is my Yelp review:
----
I came in with a pendant from a track lighting that I have in my condo. All I wanted was to check with a professional if they had anything that could fit my track. The woman behind the counter, Kim was her name, was extraordinarily unhelpful and dismissive (I was practically begging for a sales pitch, I mentioned how much I hated my track lighting, and still, Kim dismissed my concerns) . I left the pendant at the store the weekend so their professional can check the wiring.
It turns out they don't carry the type of track I have (which is fine) however when I picked the pendant back up this afternoon I found that it was missing a little glass container over the light. I asked Kim to check for it, she basically told me to my face that I must be mistaken, because they didn't lose anything. I hate being lied to to my face, that is the reason for this shit review.
-----
Revenge is bad Yelp review.
In other news, the book case is nearing completion. Take a gander:
On top of that, I have a big interview with a local (up and coming) Mortgage Company. They want to discuss 'Career Opportunities' with me; I take this as a very good sign, I've never had a company ask me to interview for available opportunities. This could be a game changer.
The Loft is coming along, I completely failed to find new hanging pendants for my track lighting. I went to a place in Thousand Oaks called Thousand Oaks Fans and Lighting. Well, in order to not type this out twice here is my Yelp review:
----
I came in with a pendant from a track lighting that I have in my condo. All I wanted was to check with a professional if they had anything that could fit my track. The woman behind the counter, Kim was her name, was extraordinarily unhelpful and dismissive (I was practically begging for a sales pitch, I mentioned how much I hated my track lighting, and still, Kim dismissed my concerns) . I left the pendant at the store the weekend so their professional can check the wiring.
It turns out they don't carry the type of track I have (which is fine) however when I picked the pendant back up this afternoon I found that it was missing a little glass container over the light. I asked Kim to check for it, she basically told me to my face that I must be mistaken, because they didn't lose anything. I hate being lied to to my face, that is the reason for this shit review.
-----
Revenge is bad Yelp review.
In other news, the book case is nearing completion. Take a gander:
We just need to stain the wood and bolt it into place. It should be ready to go in 3 weeks or so.
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