The rumors of my death has been greatly exaggerated

One question I’m asked every day: Rick how is business.

Everyone hears from the news media that the mortgage business is in trouble. They have pretty much declared our business dead.

The great Samuel Clemens (Mark Twain) upon reading about his death wrote to the newspaper that ran his obituary the following: "Gentleman, the rumor of my death has been greatly exaggerated." I say to all of you "the rumor of the death of the mortgage business has been greatly exaggerated."

In 2008 my mortgage production is up 100% over 2007. Our office mortgage production is up 300%. This is due to adding additional loan officers, excellent product, and hard work. Does that sound like a dead business to you?

Are there problems in the mortgage business? Definitely! Are there problems in most industries? Absolutely! However, problems do not equate to death. They show us areas that need to change, areas we need to work on and improve, but not dead areas. I believe that the business is better today than in the past few years. We are back to making mortgage loans that make sense.

As hard as it is for us individually and for the entire country to go through this mortgage and real estate ‘crisis’ as the media call it, we will be better for it. Lending was out of control at many lenders over the last decade. Now the pendulum has swing the opposite way and with any luck we will end up with the pendulum neither right or left but right down the middle. We will be making good loans to well qualified individuals and companies. The borrower will be investing a down payment into the process and will work hard not to lose that investment.

Yes there are better days ahead for American business and for the United States. So smile!