Jean H. Telfort's Production Memo

Saturday April 12, 2008.

Jean H. Telfort’s Production Memo

Title: Impact of Subprime Mortgage Crisis in Nassau County, Long Island, New York.

By Jean H. Telfort

From the onset, I pitched two stories to Professor Krochmal for my final class project. During class presentation on Wednesday March 4, 2008 I elected to pursue the current Subprime mortgage crisis. Indeed a mammoth project for a two minute presentation, but a challenge that I welcomed with unabated breath.

The progress report implementation from Professor Krochmal and the application of William Blundell’s story blocks (six elements) allowed kept me focused on the project. I used the six elements as a platform to organize my project.

I chose the Mortgage crisis because of its potential effect on the global economy. Moreover as a citizen of the world I felt compelled to embrace a story relatable to everybody.

Once I received approval from Professor Krochmal on my final project topic, I launched an in-depth research plan on-line from respectable news organizations archives; collected newspaper and magazine articles on mortgage issues; began monitoring foreclosure websites organic to Nassau County, Long Island, NY; searched for experts in the mortgage industry specifically subprime area for possible interviews.

The more research I conducted, the more drawn and passionate I felt to my topic. My break came in when I received a call from two individuals on Monday March 24, 2008 from an Independent Broker (Jason Levy) and a Mortgage Analyst (Ivan Brathwaite) agreeing to be interviewed for my project. It was not easy at first, but after a couple of dialogues they both agreed to lend a helping hand.

Once again the initial story board, progress reports, and Blundell’s elements came in handy for the series of interviews I conducted with Levy and Brathwaite. I was able to focus on specific questions to paint the history, scope, and central reasons behind the crisis.

I am forever indebted to my interviewees for their support, knowledge, sacrifices they made to accommodate me. The interviews were conducted late in the evenings in neutral locations due to competing family demands and other priorities. I completed all my interviews on Sunday April 6, 2008; however, some poor audio forced me to conduct additional interviews late Friday April 11, 2008.

Now that I have everything required for the final project, putting it together in a presentable package gave rise to new challenges. Working together with fellow classmate Rich Forestano and Guru Marcus Vanderberg alleviated those challenges.

By far the most challenging project I have endeavored in my entire life. The unknown, the uncertainty loomed at every corner. I second-guessed myself throughout the entire project, but my never say die attitude and thirst for knowledge kept me grounded when doubts kept in.

On the same breath, this project was immensely rewarding. The researches and interviews I conducted along with lessons learned yielded scores of invaluable information. Information on not only the impact of the Mortgage crisis on Nassau County, Long Island, NY but the global impact on the economy worldwide.

To future students I will say the following, start your project early, stay focus when facing challenges and doubts, remain connected with fellow classmates, take advantage of seminars as they are meant to refine your skills, and ask for help whenever necessary.