Loan volume is currently at 2008 levels. Say hello to the lenders recession?
Not to get anyone alarmed, but, loan volume is down to 2008 levels. Do you remember 2008? Sure you do. 2008 was when the recession was alive and kicking. Well seems were in the same spot now as we were then when it comes to lending. The decrease in refinance volume has brought lending into it’s own sort of recession. Although the rest of the economy may be bounced, or bouncing back, lending has slipped back to the dark days.
If you are a lender you’re probably feeling it. That is if you’re the average lender out there. The average lender is looking around kind of dumbfounded wondering what they’re going to do. But there are many success stories out there right now. We know because we hear from them all the time over here at the Post. There is still great success available out there, it’s just a matter of being willing to dig in and get your hands dirty.
It’s moments like these that really do separate the wheat from the chaff. Sales is a tough game. Sometimes when market conditions help us along we feel like it’s not so tough, but when things, dare we say “normalize” it shows the cream at the top. So if you’re having a great year – awesome – keep kicking ass. If you’re struggling – you can do it – you just have to be willing to do actual sales work again and “talk to people”. You CAN manufacture new business, you just have to be willing to do it.
You all have a wonderful weekend!
Frank and Brian