Written By: Stacey Sprain, Op-Ed Writer
For those of us who have been in the mortgage business through all of the various booms both positive and negative, one thing’s for certain: None of us have ever seen anything like the past few years of change in the industry. Constant changes, major changes, changes to how we’ve always done business, form changes, licensing changes, compliance changes, payday changes, … and there’s clearly no end in sight. There are days when the constant changes are truly exhausting. Many of us count down the hours until the end of our days, end of our weeks, because our brains hurt!
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But there are a few points we should stop to remind ourselves of. Even with all of the change, this is still a truly great time to be in this business. It’s easy to lose sight of the positives when so many changes seem to sway our thoughts toward the negatives. Here are some great reasons why it’s still great for all of us to be in the mortgage business:
1. New regulations have wiped out hundreds of thousands of competitors!
2. It’s a lot more difficult to get into the business and to stay in the business!
3. Most of the “bad guys” have been weeded out leaving majority of the business to ethical and honest experienced professionals!
4. The “part-time loan officer” profession has fallen to the wayside!
5. There are millions of renters out there who can qualify for homeownership!
6. There are still many great loan programs designed to qualify borrowers to sweep up the foreclosure inventories!
7. Rates remain historically low so business remains plentiful!
8. Commissioned originators have the ability to give themselves a raise by simply expanding their referral partnerships and working their databases to originate more loans!
9. There are more great training resources out there now than ever before so we can constantly expand our knowledge!
10. We still make dreams come true for American families!
That last point - #10 is what’s most important and is the one positive factor that we must never lose sight of, despite all of the changes and negativity in our industry in recent years. We have the ability to help people with the largest and most personal financial investment they will make in their lifetimes. We have the ability to help people rebuild their lives and to make their dreams come true. We have the ability to give children their own yards to play in, their own bedrooms to sleep in.
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So when our days get tough and the changes cause us stress, let’s take a moment to stop and remind ourselves of why it truly is a great time to be in the mortgage business. The most important and most gratifying aspect of our daily jobs is that we help families turn a house into a home.
About The Author
Stacey Sprain - As an op-ed writer, Ms. Stacey Sprain is currently a NAMP® Certified Ambassador Loan Processor (NAMP®-CALP). With over 15+ years of mortgage banking experience, Stacey is also a Quality Control Manager for a major mortgage lending institution.
