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Greed and a bad economy knock on the door

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From page B2 | November 21, 2012 | Leave Comment

Book review

Book: “The House’s Money”

Author: Owen Sullivan

Publisher: Authority Publishing, June 2012, 274 pages, softcover

Cost: $16.95 or Kindle version $6.99

When Matt Whiteside lands the job of his dreams as a mortgage securities trader in a prestigious San Francisco firm, life is good. When he meets a beautiful young woman, also on the upward move, it gets even better in Owwn Sullivan’s book “The House’s Money.”

But life is not always what it seems.

In the vein of John Grisham’s “The Firm” Whiteside becomes aware of colleagues undercutting him, conspiracies of greed and a deteriorating housing economy that threatens his dreams and those of the people he loves.

In his first book, Sullivan explores the world of mortgage-backed securities, a world of greed, power and status that Sullivan has seen from his career as a real-estate developer.

“In 2005 and 2006, I had five or six projects in the works, but the banks pulled the rug out from under me,” said Sullivan. “I had some rental homes and tried to do a short sale with them, but the bank kept losing my paperwork and the whole thing went on and on. I thought, if I’m the business and I have this much trouble, what would it be like for the average homeowner? Things with banks were in such a mess that I thought this was a story a lot of people would have interest in.”

With time on his hands and a front row seat at the mortgage meltdown, Sullivan wrote “The House’s Money.”

“The whole mess started and ended with Wall Street, so I used a trader as the main character. Banks were panicking, hiring a whole bunch of people and not giving them much training to handle things. They had a script to read when people called and no decision making ability, but they could call you and pester you to death. I wanted to give people a peek behind the scenes in my book,” Sullivan said.

Sullivan is completing a sequel to “The House’s Money,” which should be released in June or July, 2013.

On Friday, Nov. 23, he will be signing books during the Festival of Lights in downtown Placerville at Placerville News Company, at 409 Main St., from 5:30 to 7:30 p.m. He will also be signing books on Saturday, Dec. 1 at Books ‘N’ Bears, 6211 Pleasant Valley Road in El Dorado. from 11 a.m. to 1 p.m.

“The House’s Money,” can be purchased locally at Placerville News Company, and Books ‘N’ Bears, in El Dorado at 6211 Pleasant Valley Road, as well as from his Website at TheHousesMoney.com.

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