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Note from the Founder by Robert Pegg

I have this theory that our industry is the “canary in the coal mine� for the overall economy.  Back before proper ventilation was prevalent in early coal mines, miners would bring with them caged canaries to help detect dangerous gas build up down inside the mine shafts.  They knew the air supply was safe to breathe as long as the canaries kept singing – hence the expression for a warning - “Canary in a Coal Mine�.  Back in 2007, when lenders were dying off by the hundreds (the canary stopped signing), it took the economy another year and half to really feel the effects of recession.  Now, while the economy is bottoming out, our industry (residential lending) is seeing a boom in activity.  This will ultimately spill over into the overall economy. 

Given this analogy, there is no better topic for our feature article this month than the one Todd Duncan (Yes, THE Todd Duncan) writes about titled “Crisis…What Crisis?�  Read about his six steps to “weathering the storm.�  

This issue is also host to Martin Andelman’s very first column called “Bringing up the Rear.�  And as the name suggests, it will be located on the page opposite the inside back cover every month.  In this issue, stop by and read what he has to say about Ben Bernanke and the Federal Reserve.

Find out why nearly 85% of hard money lenders use The Mortgage Office™, by Applied Business Software.  We sat down with AJ Poulin, National Sales Manager for Applied Business Software, and talked about how they are adapting to this current market.

This is our twenty fourth published issue of TNR (two years).  The Niche Report is truly finding stride as a national mortgage industry trade publication.  No other magazine brings you informative, entertaining and controversial content like we do.  And to have industry legends such as Stewart Mednick, Martin Andelman, Karen Deis, Leslie Petersen, Tom Ninness, Todd Duncan, Mark Hanson, George Marentis and many, many others, contributing to TNR is a humbling honor.  However, this is just the beginning, and as our industry evolves, so do we.  Look for very positive and exciting changes (both in our website and magazine) in the near future.


Keep up the fight,

Robert Pegg


Letter to the Editor
I have been reading the Niche Report for quite a while.  I also own a reputable mortgage modification business in the Tampa Bay area.  You supply great articles and your columnist Martin Andelman is outstanding.  He is someone who is not afraid of speaking the truth.  I had to laugh because his article “Pigs, Puppets and People in Peril" reflects our daily adventures with lenders and yes, he really nailed it.  As a company that has high moral standards and integrity it is nice to know that there are people in America who give us some credit for what we are doing.
Thank you for your support! You guys are great.
Victoria Rahming
Owner
1st Mortgage Modification Solutions, Inc.

Thank You Victoria – Martin is a gifted writer and goes to great lengths to point out the obvious.  And now that he has accepted the role as columnist for TNR you will see much more of him in the future.  Check out his first editorial “Bringing up the Rear� on page 46.