Many of you in the Mortgage and Real Estate Industry may be scratching your head thinking "What in the World Just Happened to my volume"?
Let me explain:
The Holiday Season in late 2013 landed on two Wednesdays. Human nature inspires employees to maximize holidays by wrapping them into vacation days. When a holiday lands on Wednesday and you are full of cheer, taking Thursday and Friday as vacation days makes a great weekend. Then... Hmmm since I am taking a long weekend, why come in on Monday and Tuesday because I will be thinking about the long weekend any way. This thought process across a large segment of the industry and consumer market creates a significant hole in demand. In theory, this took two weeks of production out of the pipeline.
Two significant snow events along with the pre and post anxiety, took out another 7 days.
The same psychology that impairs the average consumer affects MLOs. As a result, demand lags and business development slows compounding the events.
The data proofs that the economy is on the same trajectory forecasted for 2014. These events although unfortunate for business pass and 2+2 will = 4 again. On the bright side, the financial impact on companies during this period was transposed into family building and reconnecting on a personal basis.
Not sure your creditors will see the trade off the same way but your employees enjoyed a great gift of fellowship and will make your company better as a result.
Chief Executive Officer
Southeast Mortgage of Georgia, Inc.