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Holiday Schedules, Office and Courthouse Closures
Professional Development: WVBT will close at Noon on Thursday, November 9, and will be closed all day on November 10 for our team to participate in a professional development event
Veteran's Day: Friday, November 10 - Courthouses Closed
Thanksgiving:Thursday, November 23 and Friday November 24 WVBT and Courthouses Closed. Courthouses will also close at Noon on Wednesday, November 22 with recording hours restricted to 8 a.m. to 11 a.m.
MBA Economists: Here's What Mortgage Rates Are Going To Do in 2018 and Beyond
What to expect in mortgage lending in the next few years
by Sarah Wheeler
On a whole, mortgage interest rates
moved lower throughout 2017 after rising above 4% in January.
But what's going to happen in the next few years?
According to the top economists at the Mortgage Bankers Association
, mortgage rates will rise in the next few years, past 4% and even past 5%. ClickHEREto learn more.
The Role of SMB Lending At Community Banks is Changing
Small business (SMB) lending is big business for community banks, which are a popular destination for small business borrowers, thanks to strong approval rates on loan applications. But new analysis from the Federal Reserve has identified a reversal in community banks' position in the small business lending market.
According to the report, small business lending at community banks dropped by 2.2 percent in 2016 down to $269 billion. That decline is contrasted by the 5.1 percent increase in SMB lending among large banks. ClickHEREto learn more about this report.
About this time each year front line banking staff who are responsible for developing new business for the bank are generally required to compile an annual budget/target for what they expect to achieve next year.
Most generally budget for a moderate percentage increase that could be reasonably achieved based on the current level of activity they undertook this year.
Alternatively, the community bank leaders may simply decree that the bank has a specific target for next year and expects the business development team to rally behind it with no specific activity plan.
But is that what the banker - or the bank - really wants?
ClickHEREto read on.
"The organizations that succeed realize that offering a remarkable product with a great story is more important and more profitable than doing what everyone else is doing just a bit better."
~ Seth Godin ~
**Remember to offer your borrowers Owner's Coverage on their most valuable investment. It's a one time premium with a lifetime of security. In addition, they will receive a reduced premium rate when they obtain it simultaneously with your Lender's Coverage.**
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