My New Blog

Woe, what a time we are all having in the residential lending world the past couple of weeks.   With the shut downs, and closings of many mortgage companies, people are starting to get panicky.  Major companies’ stock values are declining and before we all know it many companies that are still here today, will be gone tomorrow. 

I feel sorry for the people that are loosing their jobs; they do have families (many with children).  It has been inevitable for some time though, with so many people becoming hires of the industry.  We will see many agents, loan companies, appraisal companies, and title companies be forced out of business in the next several months. 

Many folks jumped in thinking they would make millions by striking while it was en vogue to be here.  It is fine with me that the folks who are only interested in the money are leaving.  The folks that want this as a career will be here when it's slow, just as they have always been.

Many of us are good at what we do and have a loyal following.  Many of us, us at FMA included, are still marketing and getting new clients, based on that following.  This weeding out period is healthy as an overall correction.  While being sad, it is a needed evil of economics.  I guess that is why they call economics the dismal science. 

We will all prevail through it, but don't let the down turn in the market persuade you to stop getting more education, more marketing done, and more shoring up of your position as a leader in your respective fields.