“Denial ain’t just a river in Egypt.”- Mark Twain (1835-1910)
Archives for February 2012
“Democracy does not guarantee equality of conditions – it only guarantees equality of opportunity.”- Irving Kristol
The VA loan program had a monster year in FY11, and it’s in the middle of a monster stretch, triggered in no small way by a more restrictive lending industry. The VA backed almost 360,000 loans last year, a 14-percent increase from FY10. That’s good for a 168-percent increase since FY07, when the agency guaranteed a little more than 133,000 mortgages.
What’s more, the VA loan has emerged as the safest lending product on the market. VA loans have had the lowest rate of foreclosure and serious delinquency over the last 14 quarters and 11 quarters, respectively, according to the Mortgage Bankers Association. That’s even including prime loans.
Thousands of soldiers are preparing to return home from the Middle East and Afghanistan in the coming months. Their return, coupled with a surging interest in refinance loans, may put 2012 in the VA record books when the fiscal year comes to a close this fall.
“The backbone of surprise is fusing speed with secrecy.”- Von Clausewitz (1780-1831)
“I’m not a member of any organized political party, I’m a Democrat!”- Will Rogers (1879-1935)
In yet another example of a franchise buying up offices at this difficult time for brokerages, it was reported that Coldwell Banker has bought yet another brokerage in Connecticut. The brokerage will now operate under Coldwell Banker’s franchise with the original owners still working inside of the franchise as REALTORS.
With valuations of brokerages MUCH lower than in recent memory, it seems that some franchises are taking the opportunity to build their brand with strategic mergers and acquisitions. For struggling brokers (or those who have decided that they just want to get back to selling), the opportunity to sell their business and get back to the sales side of the business can offer much less pressure and much less stress.
“Learning is what most adults will do for a living in the 21st century.”- Lewis Perelman