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  • Matt Joy, Princeton Mortgage Wholesale

Is the mortgage industry just playing the victim card?


As you’ve probably noticed in the past few weeks our blog posting has become a bit irregular. You can blame it on a variety of different things… we’re growing as a company and as a result we had to allocate our resources to focus on production, thus eliminating the availability of myself and the team to come up with original content, but that’s an excuse. You could also blame the industry for “lack of content” …if you check the mortgage news outlets you’ll see the same song in dance just repackaged in a different way… “Non-QM is the mortgage of the future”, “the rise and fall of the Refinance”, “the economy is strong, Fed raises rates”, “the new problem in housing… there isn’t enough homes”, “Millennials have wealth, but aren’t buying”…I could go on and on and on… we’ve written about every single topic that’s out there and we’ve beaten it to death, but that’s still an excuse. You could even blame our posting irregularity just on the fact that it’s hard to keep a blog going… but still that’s an excuse (I hope you can see what I’m getting at by now).

These are all excuses and as soon as I or anyone else accepts these excuses we become a victim of circumstance and we’re no longer a player. Now, I don’t want to dive into that spiel… our CEO, Rich Weidel covered that in great detail a while back… however, I do want to connect this idea to our industry as of today. Lately, I’ve been hearing and seeing a TON of excuses about why business is slow, mortgage companies are struggling… blah blah blah and then this morning I read a great article in HousingWire about the “5 issues impacting real estate”. All of which we know and have known for the past 2 years:

  1. Rising rates and the economy

  2. Politics

  3. Housing affordability

  4. Generational change

  5. Technology

Some may look at this list and go… yep that’s it, this is exactly why we or I for that matter can’t get business right now. That’s a victim mentality. That’s like losing the game before the first snap (sorry I use a lot of football analogies). What I see when I look at that list is 5 excuses that will make “victims” feel comfortable… when I see this list it gets me fired up because I know the ones who overcome these obstacles (which is truly what they are) and adapt to the current environment will succeed. It might not be at your current company or in your current position… but if you keep moving forward you’ll never be a victim and you’ll always be in the game.

I heard a saying once that stuck with me for a long time… “You can’t control the things that happen to you, but you can control how you react to those things.”

Just some food for thought.

Talk to you soon!

MJ

Photo by Floris Jan-roelof on Unsplash

The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.

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