Entry by JoeDerhake
At Thanksgiving we, like a lot of families, we go around the table and everyone says what they are thankful for. I am blessed with a loving wife and two fine boys so I had much the be thankful for.
Perhaps it is healthy to give the same sort of thanks in our work life. A tough economy has made things tough, but there is still much to be thankful for in 2012.
A few things that come to mind:
1) Low Rates. The lowest rates of our lifetime has been a blessing to the entire industry.
2) Less pre-foreclosure work: our pre-foreclosure Phase I ESAs is half what it was a year ago as a percentage of work.
3) More transactions than last year: EDR reports that Phase I ESA volume (a leading indicator for real estate transactions) was up 6% third quarter of 2012–everyone makes money when transactions are up. Also, I bet Q4 is way-up
4) GSEs. Good for some, bad for others, agency lenders (Fannie, Freddie, HUD) have had a robust year.
5) CMBS. While not the go-go days of 2007, CMBS has turned in a very steady year with what I believe will be a ring-dinger of a forth quarter.
6) A great SBA 504 Loan on our Green Headquarters;
7) And, of course, great service from EDR!
Other than the Houston Texans stealing a game from my Detroit Lions, it was a fine holiday. I hope everyone had a great holiday and is enjoying leftovers.