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An EP Giving Thanks

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.