ASC's Community Partnerships hosts Mortgage Crisis Forum: What it all means


The Adams State College Community Partnerships invites the general public to attend an informational event about the Subprime Mortgage crisis. The crisis began with the bursting of the US housing bubble and high default rates on "subprime" and other adjustable rate mortgages (ARM) made to higher-risk borrowers with lower income or lesser credit history than "prime" borrowers. This event will help to broaden your knowledge of the crisis, implications to our market and even give some tips on how to protect yourself during this economic struggle.

One of the guest speakers will be Marcia Waters. Waters is the investigations and compliance director for the Division of Real Estate, which she was appointed to in August of 2007. Waters oversees the enforcement aspect of all three programs that the Division of Real Estate regulates. The programs include The Real Estate Program, the Appraiser Program and the Mortgage Broker Program. These programs are comprised of approximately 64,000 real estate professionals conducting business in Colorado. She worked to get her B.A. in Sociology with an emphasis in criminology from the University of Colorado in Boulder. Her goal at the Division of Real Estate is to protect the Colorado consumer through aggressive enforcement and responsible regulation of real estate professionals.

The second guest speaker will be that of Cary Whitaker. Whitaker is the administrator of the Mortgage Broker Program for the Division of Real Estate, he was appointed to this position in August 2006. The Mortgage Broker Program oversees approximately 20,000 mortgage brokers doing business in Colorado. Whitaker gained his valuable previous mortgage experience in the wholesale lending arena where he worked for GreenPoint Mortgage and Paul Financial, LLC. Whitaker is a native of Kansas. He received his B.A. in international affairs from the University of Colorado at Boulder. His goal at the Division of Real Estate is to support the Colorado economy with responsible statutory implementation and to also protect the Colorado consumer through aggressive enforcement.

The event is from 5 p.m. until 8:00 p.m. Thursday, June 12, in the Adams State College School of Business room 142. The event has no cost but space is limited. If you have any questions or would like more information please contact Community Partnerships at 719-587-8209. A networking session open to San Luis Valley mortgage professionals will be held from 4 p.m. to 5 p.m. prior to the event.

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