Why Will the TAMP State Convention Double Twice?

I predicted last week that the 2012 TAMP state convention will be 4 times the size of 2010 and would like to be clear; 2012 will be 4 times the size of 2010 in the number of exhibitors and overall attendance. It will be much larger than that in the number of mortgage brokers in attendance.

This prediction got my phone ringing and I'll explain why I made that prediction;

1. FHA has eliminated the requirement to be approved by FHA to originate FHA loans; huge savings in time and money (no financial audits)

2. While the jury is still out on much of this, LO compensation changes will very likely be easier to handle in some ways with smaller firms.

3. Loan quality has increased significantly by most standards; trust but verify is being done in a rapid and robust manner.

4. Reports are being published that wholesale lending is showing a better profit.

5. Larger firms are trying to increase market share and wholesale channels are less expensive.

6. Smaller profit margins

7. The good old free-enterprising-entrepreneur-spirit is alive and kicking

History has always shown that business types are cyclical and we, Americans, always move back towards small, low overhead shops.

There are some differences this time around including the fact that many of the medium sized retail lenders started out as small companies and know the spirit I'm referring to. Also, the make-up of the wholesale business will be different with more mini-correspondent types and such, but wholesale will grow substantially. The playing fields will be leveled and the winners will be those that offer TRUE competitive advantages to the loan officers.

To that end.....

PS...and this will bring more people to the 2012 convention