Our broker Michael Blomquist is a second generation real estate and mortgage broker who was born and raised in Silicon Valley. Michael has 20 years of experience, financing, listing, selling, leasing and developing real estate. Michael has authored a book on the housing bubble and has been interviewed on numerous occasions. (see below)

Michael was one of the only real estate professionals in the industry who warned clients, regulators, law enforcement, Congress, etc. of the rampant mortgage fraud in housing. In fact, the fraud became so prolific that Michael closed down his successful real estate offices in early 2004. It was unwise to maintain office expenses while recommending that clients wait to purchase.

Due to the dramatic changes in lending standards (growth of liar loans); it was clear that home prices were grossly, fraudulently and intentionally inflated. Michael knew that anyone who purchased during the bubble years would be financially and emotionally devastated if not destroyed for doing so. As a real estate and mortgage professional Michael and others in his profession have a fiduciary duty to their clients. This duty is simple; place the interests of clients ahead of his own.

Here are some responses to Michael's numerous warnings:

http://www.michaelblomquist.com/images/Feinstein.pdf

http://www.michaelblomquist.com/images/FEDLetter.pdf

Michael's warnings were responsible for the inter-agencies (FED, FDIC, OTS, OCC, NCUA) tardy and toothless review of non-traditional mortgage products (Subprime, Liar Loans - Stated Income, Option ARMs, etc). His comments to the proposed rule making can be found at line 20

http://www.fdic.gov/regulations/laws/federal/2005/05comguide.html

Here is a recent interview of Michael Blomquist by Washington D.C. investigative reporter Greg Gordon:

http://www.mcclatchydc.com/2010/10/10/101751/real-estate-agents-warnings-of.html#storylink=omni_popular

Dealing with real estate professionals over the internet can be concerning; now you have someone to call who you can trust.