Shamrock Financial Corporation

August 4, 2010
Ranchos Palos Verdes, CA

Note: Lenders One is the nations largest mortgage banking cooperative. (http://alturl.com/gasrz)

Final thoughts from Lenders One Conference

Just a few quick thoughts and random remarks as we leave the L1 mortgage banking conference in Southern California.

With all the change and uncertainty in the industry, most attendees were focused on what good old Joe Friday used to say: “Just the facts, mam, just the facts.” The prevailing wisdom was that no matter what the regulatory changes amount to, if known, they could and would be dealt with. Owners and high-level executives here pretty much sang from the same hymnal this week: Knowing the bad news and dealing with it is better than pretending there is no bad news. “Whatever the conditions, we will find a way to succeed.”

Most appear primarily concerned with loan officer compensation changes, buy-back pressures and the future of Fannie and Freddie. Jobs and taxes leave just about everyone shaking their head and insisting there is no real estate rebound without better news on these two fronts.

Keynote speaker, Kyle Maynard, a 24 year old athlete born with congenital amputation of the forearms and lower legs appropriately echoed the theme of the conference in delivering an uplifting speech that preached daily perseverance and always maintaining a can-do attitude no matter what the challenges. Kyle also thoughtfully reminded us not to doubt or judge others and to always look to inspire those within your reach.

This concludes our broadcast. We look forward to returning to our regularly scheduled program with a few lighter entries later this week.

Dean Harrington has been active in the consumer finance industry since 1984 and is the current Chief Executive Officer of Shamrock Financial. Dean can be reached at dean.harrington@shamrockfinancial.com .