Yes, we did tease this topic a bit a few weeks ago. However, that posting was intended more as an observation or reflection on mid-summer. I hope you all managed to get a little rest and refreshment, because Labor Day, which is the virtual, annual green flag for what tends to be the most frenetic time of year in business, is on top of us. We have a lot to discuss.
Of course, the first thing we’ll talk about involves a shameless plug. Fortunately, our LodeStar’s Lending Leaders podcast is anything but 20 minutes of shameless plugs. We’ll be leaving our breezy summer format and getting back to some heavier topics, although we reserve the right to ask our guests about their favorite Marvel Universe heroes or villains from time to time! Here’s a teaser for you. If you like Josh Pitts from SHRED Media, we know you’ll love at least one of our upcoming podcasts. We’re also bringing back one of the industry’s ultimate thought leaders, Regina Lowry of Dytrix. We’ll be bringing in a lot of new and familiar faces as well.
While folks will naturally be talking about LLL, we’re also about to be knee-deep in what may become one of the most unusual conference seasons ever. We know 2020 already holds that title, with a lot of innovation out there to keep some semblance of normality within our reach. But will 2021 be a rerun of 2020? Or a strange combination of 2019 (where everything was live, onsite, and the way we’d always known conference season to be) and 2020 (Zoom chat, anyone?). This will also be a real opportunity for folks to get face-to-face (from 6 feet apart, anyway) to discuss what can only be described as a chaotic two years, for the first time in roughly two years. We’ll be interested to see how the logistics play out, as well as the conversation and content.
I promise, we don’t get paid a commission every time we mention the purchase market. But it’s here now, and we haven’t had a ton of them in the last decade, so it really is discussion worthy.
Now we’re hearing about a hint of buyer hesitancy (costs, uncertainty in the economy), supplier costs, labor shortages and maybe even market fatigue. None of those things typically signal a continued robust market. But how many times has the real estate and mortgage industry defied the odds in the last two years alone. There’s a lot to stay focused on this fall.
Of course, our closing cost calculator doesn’t just help you with TRID compliance. It’s also been successful because lenders want to avoid or push back on margin compression. That’s why the producers of loan origination systems, POS…heck, even title company software…are doing so well right now. But we’re already seeing that term (margin compression, that is) all over the place in the trades. We think that will continue. Now, the real question is this. Will lender wariness about shrinking margins, as reported on widely, lead to an acceleration of the tech revolution we’ve been watching among lenders and their service providers for years?
Heck, what else would we talk about in December? Along with the retrospectives, the fourth quarter is the time when the mortgage and real estate industry tend to look ahead. And after the past two years, we’ll all probably need to upgrade the ole’ crystal ball to know for sure.
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