Newsletter - January 2015
Happy New Year! I hope your 2014 held many happy memories, of both the business and personal variety! But now that we've weaseled our way into 2015, it's time to turn our attention forward and look at what is possibly (probably) coming our way in 2015.
In that vein, I'd like to offer my own take with 4 predictions on what we will see play out in 2015 in the mortgage industry. Let's do this!
In the year 2015...
1. Millennials will infiltrate the lending industry.
As the first wave of Millennials begin to truly flex their professional muscles in the workplace, I think we're going to see more and more young faces flowing into banking and lending establishments. While home ownership for the millennial generation is lower than is typically seen, they still represent the next big audience for lenders, and we can expect companies to bring in faces and personalities that “get” them. Brena Swanson at HousingWire touched on this idea in a recent article.
2. Getting a mortgage will be a bit easier.
In the beginning of December, Freddie Mac and Fannie Mae released new, relaxed lending guidelines that help servicers understand more clearly what is expected of them, paperwork-wise. “It's providing greater certainty for all the parties so that you can lend more confidently and make the whole judgment process much easier and more clear cut,” said Mike Heid, CEO of Wells Fargo. And when lenders feel comfortable, there are fewer hoops to jump through for buyers.
3. Oil prices and interest rates will go hand-in-hand.
Trey Garrison of HousingWire penned a really interesting article on this situation. I recommend you check it out. Even though experts expect mortgage rates to rise in 2015, there is evidence that lower oil prices could lead to sustained low rates.
4. Regulations will become stricter and more numerous.
The CFPB (Consumer Financial Protection Bureau) recently released a new set of proposals that build upon the regulations set forth at the outset of 2014. As the long and winding process of regulatory oversight continues, I fully expect more and stricter regulations to come down the pike, as well. Get your compliance systems in place!
Speaking of, if you need a helping hand with your document retrieval/compliance systems, Blue Streak Docs is here for you! If you haven't worked with us yet, you can try us out and get your 5th order FREE!
What are YOUR predictions for the mortgage industry in 2015? Disagree with any of mine? Let's discuss!
An Update on Matthew
We wanted to express a huge THANK YOU to all who donated to Matthew's family so they could spend quality time together. Over $1600 was raised on his behalf! That's amazing! One of our Blue Streak Docs employees, Mary Collazo was kind enough to offer up her timeshare to the family and they are scheduled to stay on Disney property.
From Matthew's Mother
"Hi! This is Donna, Matthew's mom; words cannot express our gratitude for what everyone has done for Matthew and our family! It is a true blessing having the support from the community during Matthew's journey. It's been a long, tough 38 months, but he is one strong little boy. Thank you again for helping make his dreams come true. God Bless and Happy Holidays to all!" - Donna
Thank you again for your donations, thoughts & prayers!
We are so proud to have such an amazing team here at BSD! To recognize those for going above and beyond, this year we held our first ever Employee of the Month and Employee of the Year Competition. Those who won Employee of the Month became candidates to win Employee of the Year and all were deserving as they each received numerous commendations showing that they exceeded expectations on a regular basis. After much discussion we narrowed it down to James and Mike as you see below, two exemplary employees. After a lengthy discussion and each of the executives here at Blue Streak Docs swaying back and forth between votes, we finally came to the conclusion that we were at a tie. We decided that both Mike and James were both equally deserving of the title, Employee of the Year.
Employee Of The Year
Mike has an excellent attendance record, is willing to work overtime 95% of the time, and is never late or asks to leave work early (unless it's pre-approved). He has been promoted to Team Lead in his year of working here and has excelled in his new role with helping both Aaron and Charles with all of their questions every day while still maintaining his high production numbers in both searching and quality control. Mike has never said no to anything his manager needs help with and always tackles any involved searches or QC. He constantly has great ideas to help improve the work flow in our department and even with helping abstractors understand our searches in more detail. He's always pleasant when speaking to abstractors on the phone or in emails and is more than willing to help them get through a search if there is any misunderstanding. He has enough knowledge to be able to help both the Document Retrieval and Recordings Departments whenever they're in need of help and even maintains high production numbers when doing so.
James has proven himself as not only being a dedicated employee for both Titles and Document Retrieval, but also showing us all that the work can be done quickly, efficiently and correctly and still keeping the numbers high. He is consistently our highest producer, producing record breaking numbers in whichever task he's assigned. He's a well-balanced employee who can help out in almost any department of the company. He's set the record for highest number of title orders quality checked in a day. He's also won Employee of the Month twice this year receiving a total of 31 commendations for the year from both our client's and our staff here at Blue Streak Docs. We can always count on James to get the work done and he's a valued member of our team.