What I Learned This Month...It's Simple

To say this month was an exciting start to the year would be an understatement!

During the 20 or so business days in January, I bet we had 50+ rate changes.

Underwriting guidelines continued to tighten.

Lenders have come, lenders have gone.

MI companies are much more strict, and pricey.

Risk-based pricing reared its ugly head in the conventional market.

Appraisal values...well never mind.

The government continues to stimulate, dominate, and exasperate.

We have a new president and a renewed sense of optimism by most in this country (and beyond) that is sorely needed.

The stock market continues to tank.

If the government is REALLY buying MBS, why are rates going up?

Only in the mortgage industry do you have massive lay-offs followed by record-level refinance application volumes.

Who's in charge: Bernanke, Paulson, Obama, Bush, Shelia Blair, Kramer (Jim, not Dylan)?

Who's really stimulated with the stimulus package?

Why didn't more clients who wanted 4.25% jump on 4.75% and now are faced with 5.5%?

etc., etc., etc.

What's in store for the rest of 2009? .....I'm not sure, but personally, I'm already tired from information overload. I'm opting for simplicity. I'm going to focus on quality loan applications, and fair, but not crazy pricing of loans. I'm going to reach out and develop some strategic partnerships with a few Realtors and we are going to grow our businesses TOGETHER. I'm going to get to know each and every one of my new clients and make them my friends. I'm going to reach out to my existing clients and let them know I am here for them, as well as their friends and family. I'm going to get rid of all of the "tools" I have except Mortgage Coach and MMG. Simple, I say.

On Monday, my team and I are going to simplify our "system." In fact, we may not have a "system" after Monday, but rather, a "method." Our method will be to just enjoy our clients and make sure their loans close smoothly and on time. Then, we'll ask for referrals.

My point is that we should get back to enjoying our businesses. Stop worrying about the news, the rates, the lending climate, etc. There really is NOTHING any of us can do about those external factors. Focus on making your clients your friends, give them the same advice you would give your mother or best friend, take bullet-proof loan applications, and have fun again.

The key to growing your business in this market (I'm not considering refis growing your business) is to focus on quality and not just quantity. Quality relationships, quality applications, quality advice, and so on.

We have an unbelievable opportunity in front of us. Give thanks, enjoy the moment, and make some friends. It's that SIMPLE.