Are you getting mixed signals?

These are the best of times… these are the worst of times. Some companies are crying raising rates, low margins, low volume and laying off. One large mortgage company just laid off 37 processors and assistants, and changed underwriting to contract underwriters. One large bank just announced 638 layoffs. Another large mortgage company laid off over 100 people - all support staff. And they wonder why loan officers leave.

               Stability * Vision * Boring

I would say these three word sums up Equity Resources well. We are very stable, we grow only once our support staff is able to handle more growth. We stay liquid with cash. We avoid high-end office space and don’t sponsor sports teams. Why? Because that won’t help the loan officers get more business. We base our business on relationships. We have a Vision which we follow. One that, for the past 25 years, has been re-cast to consumers needs yet always towards “improving the lives of families.” Yes, you can say we are “boring” and I’m ok with that. We’ve only laid off one time in 25 years and that was during the financial crisis. I believe in not shining the spotlight on me or the company, but we invest in the people and technology. We are staffed to provide “raving fan” service and will always be. During slow winter months, we cross-train and develop our people. Yes, it might cost me some money, but having support people who are committed and care is more important. I believe it’s a two-way road not to a “dead end” but to “success.” The loan officer gets better support and gains the trust of the referral partners and customers leading to more business. The company closes more loans and in the long run develops more relationships and profits which can be funneled back to the support staff. It’s a plan that has worked for 25 years and I’m excited about the future of the mortgage industry. If that is boring, call me boring. Business is booming! We are growing the right way! We are expanding technology to make the customer experience better! The signals at Equity Resources are not “mixed” we know where we are going and have room for a few positive originators. If you have questions or interest, please feel free to reach out to me!