David Lykken: Lower jobless claims a reason for hope

by MPA28 May 2014
By David Lykken
Special to MPA

Recently, a report was released revealing the lowest number of jobless claims since May of 2007--that's a whole seven years! With all the other metrics coming out providing little but doom and gloom, it is quite a relief to know that people are getting back to work.
If there is a sign that the economy has hope for improving, this is it. When people are making money, they are able to make purchases that sustain them in the present and secure them in the future. When people are working, that's when they start thinking long-term. That's when they start thinking about getting homes.
As lenders, it can be far too easy to get discouraged in troubling economic times. We face report after report, revealing bad news about various industries. Sometimes, we begin to wonder if things will ever improve. It's comforting to hear good news from time to time. It reminds us that all is not lost and that there is improvement just around the corner. People are getting back to work and, as long as that is happening, we will be getting back to work as well.

David Lykken is 40-year industry veteran who has been an owner operator of three mortgage banking companies and a software company. As co-founder and Managing Partner of Mortgage Banking Solutions, David consults on virtually all aspects of mortgage banking with special emphasis executive leadership development, corporate strategic direction and implementation as well as mergers & acquisitions. A regular contributor on CNBC and Fox Business News, David also hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals. Recently he started producing a 1-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across America.


Should CFPB have more supervision over credit agencies?