Born in Washington, DC, Ken Clark grew up the oldest of 6 children to Richard and Mary Clark. His parents had several entrepreneurial ventures, including real estate and restaurants, where Ken and his siblings worked as children. After graduating, Ken set off to California to open and run a Nutrition shop. In 1979, he came back to the East Coast to join his father in his first mortgage company venture. After buying out his father and adding a Virginia state chartered bank to his lending portfolio, he grew Sentry Mortgage Bankers while maintaining a small broker shop called First Guaranty Mortgage. After selling Sentry, the time was return to turn First Guaranty into a national lender and in 1995 set up its headquarters in Tysonâs Corner, VA. Now with licenses in 44 states and relationships with Fannie Mae, Ginnie Mae, HUD and the Veterans Administration, Ken is able to help folks around the country stay in their homes and improve their financial situations. He takes great price in accomplishing this goal and looks forward to the time when the American Dream of home ownership is a reality again for every person in this country.
During this period of uncertainty with mortgages and housing, Ken along with a large group of employees that work with him, spend numerous hours working daily to create,
change and come up with ideas that help people that are caught in a mortgage and housing debacle that certainly he after 30 years in the business and most people living today have never seen. He has vowed that regardless of what the Government does for banks and the enormous advantage they have with our money as deposits, he will survive, move forward and keep FHA, a company that was created to help the underserved and young military families after World War I, and anybody that needed somebody to show compassion and the willingness to see the person as a whole.
Kenâs underwriting style which has proven to certainly be with FHA one of the best in the country. He does not look at the persons past credit only but rather that along with his future belief in their ability to make a payment, the one lender that wants and believes that people are basically good and that delinquencies are basically extenuating circumstances.
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About the Author
Kenneth Clark speaks from experience, not from political or financial ambition. His insights will benefit everyone desiring to filter out the buzzwords and gain clarity into why this disaster occurred, and how to prevent it from happening ever again.
Table of Contents
Introduction: The Purpose of This Book xi
1 The Real Estate Finance Business in America 1
2 The Crisis Looms 25
3 Agents of the Apocalypse 37
4 The Meltdown Begins 49
5 The Foreclosure Epidemic 65
6 Living with the Aftermath 81
7 Taking Back Control and Ending the Black Box Era 93
8 "I'm from the government and I'm here to help." 109
9 Where Do We Go From Here? 123
10 Back to the Future 143