Every business cycle has a lesson.

Every business cycle has a lesson.?The lesson of the 2004 - 2007 cycle was that credit quality matters.?The lessons of the 2017 - 2018 cycle were that cost control matters and is always obtainable.?The lesson of the 2019 - March of 2020 cycle was that the Doom and Gloom trolls from 2018 were wrong…as they are always wrong. 2018 wasn’t the end of the IMB. The lesson of the 2020 - 2021 business cycle was that, at some point, the punch bowl is always taken away at the moment you think it’s going to be there forever…so you’d best be prepared.

So, what will the lessons of the 2022 - 2023 business cycle be? Oddly enough - all of the above.

We’ll learn why credit quality matters and why we’re not entering a housing crisis.

We’ll relearn the important lesson of cost control and why, whether you’re doing 5 loans

a month or 5,000, cost control is always obtainable.

We’ll learn that the Doom and Gloom trolls on the web that are forecasting the end of refinance, the end of the US housing market and the demise of the US are wrong - again.

Finally, we’ll learn that, when “The Turn” ultimately comes, we’ll be more prudent with how much punch we’re drinking versus saving knowing the next, less friendly, business cycle is right around the corner.