Issue Two

A few post-Thanksgiving thoughts:
It’s been a fantastic year in terms of production volume for the mortgage industry, and it would appear this will stay more or less the same way for a while. Although talk of recession continues, we haven’t seen it yet. Even better, most experts are suggesting that even should 2020 bring us a general economic slowdown, we can rest assured that the housing industry will see more of a soft landing than a crash.
It’s easy for mortgage-related businesses to get caught up in closing as many loans (or selling as much product or adding as many new clients) as possible during these upcycles. We do the same here at LodeStar. But as we all dig back in for the home stretch of 2019, let’s continue to give thanks for a great environment after a few years of uncertainty. We’re grateful to all of our clients, partners and friends…and eagerly look forward to making some new friends as we move through the holidays.

A few thoughts on what happens next:
We all have our own planning processes. For some businesses, forecasting and strategy starts months—even years—before the “New Year.” For other businesses (especially smaller businesses, where the “day-to-day” tends to blend from one day into the next!), it’s more of a late year process. Either way, it’s crucial for a business of any size to have a period of reflection, analysis and strategy. It’s just Good Business 101. And that includes having a long-term and global plan for our technological solutions. Just how much do our widgets and gadgets really help our operation, and could we be doing more with what we have to get more out of our investments?
As you may know, we’ve been beating the drum for better and more strategic planning towards tech strategy all year. There are a lot of great solutions and platforms out there, but too many times, we see folks jump at a solution which addresses a single, isolated problem, yet fails to integrate or work well with other established technologies already in use. As a result, all too often, that “solution” just creates another problem. Here’s hoping—and suggesting—that if you’re not already taking a big picture look at each and every one of your tech platforms, it’s time to consider that approach. And the week after Thanksgiving is a great time to start!
Although the run up to the holidays is a fantastic time of year, it can also make for a choppy and irregular work schedule. Don’t forget that we’re weeks away from 2020, with the potential of a slow return to a purchase (rather than re-fi) driven market. Combine that with the typical seasonality cycle coming for most markets in the first quarter, and you’ve got the perfect time to do some long-term planning. If you haven’t really committed to forging a comprehensive and global strategy for all of your technology, may we humbly suggest that now’s a great time to gather with your CIO, COO and key managers to determine how well your integrated production systems are really working?

Until Next Week,

Jim

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