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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 8 Oct 2005 07:09:24 -0700
/ Author of the message: kuacou241@yahoo.com |
Title of the message: |
NYT: With Mortgages, Instant Wealth for Middlemen
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Text of the message: |
The New York Times October 8, 2005 With Mortgages, Instant Wealth for Middlemen By JEFF BAILEY A vast industry of real estate middlemen has sprouted recently, riding the ups and downs of the mortgage market, and in many cases, accumulating great wealth in the process. Mortgage brokers, virtually nonexistent 25 years ago, now number 400,000 workers at more than 50,000 firms. They are scrappy entrepreneurs and sales representatives who match up borrowers and lenders on roughly 7 out of 10 mortgages. This year, they will collect some $33 billion from their share of an estimated $2.8 trillion in home mortgages. Mortgage bankers, firms that lend their own money and then quickly resell the loans, can operate even more profitably. Against the backdrop of rising home prices, the industry is a lesser known piece of the rising fortunes of real estate, money made in a |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.