As an experienced Loan Officer, having to pass on a $1.85 million Purchase at 72% Loan to Value with a 665 FICO score and Stated Income Hurts. Having to tell past clients that due to their self employed status and 62% debt to income ratio we can not refinance their home hurts. Having a NYSE traded mortgage company that I worked with and respected implode last month and having many of my associates loose their jobs hurts. Having Dana Capital Group a broker that I funded 5 loans through at the begining of the year go bankrupt without paying me $20,000 in commision hurts.
With all of the hurt in the industry opportunity still knocks. Someone said "Every Adversity has within it the seed of equal or greater value." This is my new mantra...
Each morning I wake up before my wife (36 weeks pregnant today!) I turn on CNBC to get a clearer perspective on the economy. Each morning for the past few weeks I have been burdened with negative news about hedge fund managers that invested in sketchy Mortgage Backed Securities, the makets non existent appetite for these products and Feds temporary fix of injecting 38 billion into the the economy to help. Then people are interviewed and encouraged to disagree then I turn off the TV and do what my coach claims will help me reach my goals.
My coach has me E-mail him 5 things that I am grateful for every morning and call him with my daily affirmation. Today was "Every Realtor and Every One of My Clients Loves the Way I Work!". Then I have to contact 10 new contacts each day and record each conversation for his constructive critisism. I also send him my schedule for the following day each evening. It all sounds a bit cheesy but it definitely keeps the energy up and keeps me organized and focused. When I visited my Realtors this weekend I found that they are all in need of a kick in the butt when it comes to prospecting as well.
We will make it through this adjustment period and a few of us will actually earn a larger piece of the pie if we keep focusing on helping people and making the most of opportunities that come our way.
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