Looking At The Mortgage Segment With Rose Colored Glasses

Steven Covey said: “We do not see the world as the world is, we see the world as we are.”

Many Mortgage Order Mills (MOMs) are looking at the world through rose colored glasses. They are experiencing a period of 10-year lows in mortgage delinquencies and foreclosures. The banks are writing loan modifications to cure mortgage delinquencies and foreclosures. The old golden days are gone. The Federal Reserve cannot let interest rates increase. It would wreck the whole economy.

The mortgage segment will not get any better anytime soon. The downtrend has not even started to level off. NAMFS is a good measure of what is happening in the mortgage segment. Paul Williams at Foreclosurepedia.Org reports that NAMFS membership is declining and he provides an analysis of reduced profits shown in IRS tax records.

The only thing that can save the mortgage segment is a major recession. The MOMs are praying to Satan for a recession.

Too many MOMs and mortgage field service representatives are looking at the mortgage segment with rose colored glassed. They don’t see the black storm clouds. It’s time for them to step back and see the world as it really exists.