Yogi Berra, when asked about staying in a particular hotel, replied, “The towels were so thick there I could hardly close my suitcase.” I’ve attended my share of conferences in the last few months (no towels were purloined), and the two big general concerns for lenders everywhere are a) providing the best products, price, and service to clients, and b) the general economic and interest rate climate and its impact on their business model. Regarding the second topic, mergers and acquisitions are on fire, and a good starting point in evaluating deals and how to structure them is the current STRATMOR blog, “Mergers and Acquisitions Continue On.” In product news, the use of Home Equity Lines of Credit (HELOC) and closed end Home Equity Loans (HELOAN) has skyrocketed recently as consumers need liquidity but want to keep their low rate first mortgage in place. STRATMOR Group is conducting a very brief survey to better understand the key decisions driving len
I’m visiting with lenders in Tennessee much of this week, and a fair amount of the talk revolves around conversations with borrowers “unlocking the equity in their homes.” We’ve shifted quickly, which reminds me… What do Howard Johnson’s, Red Barn, Burger Chef, Beefsteak Charlie’s (I could go on… Farrell’s Ice Cream Parlor, Sweet Tomatoes, Chock Full o’ Nuts, although that is trying to stage a comeback…) have in common? They were all wildly popular and profitable, but went out of business. Few companies last forever, and corporate history is littered with big names. In lending, some top lenders from previous years are long gone. In unrelated, but related, news, Better.com was in the news again yesterday for another massive, publicized round of layoffs. (I use the term “publicized” since there are many lenders doing the same thing that don’t make the national news.) The online mortgage st
I’m visiting with lenders in Tennessee much of this week, and a fair amount of the talk revolves around conversations with borrowers “unlocking the equity in their homes.” We’ve shifted quickly, which reminds me… What do Howard Johnson’s, Red Barn, Burger Chef, Beefsteak Charlie’s (I could go on… Farrell’s Ice Cream Parlor, Sweet Tomatoes, Chock Full o’ Nuts, although that is trying to stage a comeback…) have in common? They were all wildly popular and profitable, but went out of business. Few companies last forever, and corporate history is littered with big names. In lending, some top lenders from previous years are long gone. In unrelated, but related, news, Better.com was in the news again yesterday for another massive, publicized round of layoffs. (I use the term “publicized” since there are many lenders doing the same thing that don’t make the national news.) The online mortgage st