Sam Gendusa July 11, 2015

Newsletter - July 2015

From time to time on this blog we have noted the difference in opinion between industry experts regarding the mortgage industry's latest news. Obviously, no one expects any one expert to have everything right at any given time, so the exercise is useful and prudent.

But there's a deeper question we should consider. And the question is this:

Do we know we can trust the information the experts are using to form their opinions?

This question was brought to our attention recently when a friend passed along an interesting article by Elizabeth Dexheimer of Bloomberg Business for us to read.

You can read the article for yourself at that link, but the main gist is that homeowners are beginning to use credit cards more often for big purchases than Home Equity Lines of Credit (HELOCs).

And if that sounds strange to you, it might be because you read this not that long ago on this blog:

HELOCs are on the rise again, and the tide of industry opinion seems to have shifted...

That analysis was based on the two HousingWire articles contrasted in that post. So we have HousingWire saying HELOCs are on the rise and Bloomberg Business saying they're not, mere months apart. Aside from what the experts do with that information, it's crucial to note that those are two entirely different premises! The information behind the expert opinions is different, sometimes drastically so.

We say all this to drive home two points:

  1. Diversify your advice and news sources. Make sure you are getting a full (or fuller) picture of what is really going on, and not just one perspective.
  2. Be prepared for anything. Sometimes hearing what you want to hear can lull you into a sense of safety, and you let your documentation slip. Don’t let it happen. You never know when that security turns out to be a mirage.

Blue Streak Docs can manage your document retrieval and make sure your documentation is flawless when you need it. Plus, if you haven’t worked with us yet, you can try us out and get your 5th order FREE! Clean and clear docs is the road to peace of mind.

Employee Of The Month

Lauren Brooks really shined this month! Her high production numbers show just how dedicated she is to completing orders accurately and quickly to ensure we make our deadlines.

Try us out with 5 orders and your 5th order is FREE!