Mortgage & Real Estate - 2 Roads

Dear Mortgage & Real Estate Industry,

I wanted to share a little insight into what the future brings. Mortgage origination volume sunk to its lowest level in 9 years in this first quarter of 2023. Inventory is still low as a result of those hoping to retain their 2-3% rates and payments (some shorter terms in the 1's as crazy as that is). Affordability is a major factor when prices remain high and inflation has applied pressure on rates, primarily with a quick and rapid rise. YET- we have been here before and the opportunities are massive for some if they take the right road.

I've seen a lot of changes over the last two decades in this crazy business. What is clear and consistent with people that work in this industry is the road they choose to travel. There is the road of Morality (honesty) or the road of Corruption (dishonesty). Markets like today GREATLY expose which road one is on (sooner or later). In every scenario I've experienced in my career, corrupt and unethical business practices have carried a shelf life and a dead-end road to destruction.

Today, that shelf life was temporarily extended due to a crazy cycle of low-interest rates, massive volume, and Federal regulators sitting on the sidelines while the largest violations in history have been (and are) taking place in the mortgage industry. In addition, Section 8 RESPA kickback violations continue to be a huge issue between mortgage and real estate companies and people on the wrong road.

The challenge for you is to see, understand, and embrace the difference between these two roads. Some don't lead, but blindly follow and don't realize that they are on the wrong road with the wrong people. Assuming you're independently moral, but following a group of corrupt people, actually puts you on the same road of corruption. Others with morality and 'conviction' never walk blind. Head up, eyes open, and aggressively incorruptible.

Opportunities for those on the road of Morality:

- Market share is everything. Educate, provide value, and compete. With less business or not, the minority produces the majority as always. Continue to fight arm-in-arm with your team members and colleagues to ensure consumers are educated and do not get manipulated to work with any of those on the road of corruption. Future years will produce thriving fruit for those that plant healthy seeds today and fight for what is right.

- Organically (market) and through enforcement (regulators), things will begin to change. The corrupt leaders and followers will be held to account. From individual people to small and large companies. The level of corruption, arrogance, and ignorance is at the highest point I have ever seen in my career. This is just based on data, human behavior, and exposure to social media what is taking place.

Choose the 'Long-term' road to success (morality) or the 'Short-term' road to destruction (corruption). It's your choice.?#mortgage?#realestate?#ethic