David Lykken: Thriving in tough times: The importance of staying positive

by MPA12 May 2014
By David Lykken
Special to MPA

Recently, the Mortgage Bankers Association announced that the volume of mortgage applications is currently at a 14-year low. That, of course, is not the kind of news we want to hear. The culprit can be many things: it could be the poor economy, it could be increasingly regulation, or it could simply be a change in consumer preferences.
Whatever the reason for such a disheartening statistic, the important thing for mortgage bankers is to persevere. I'm a big proponent of staying informed and being realistic about the state of things. You can't, after all, know where you're going unless you know where you're at. However, it is equally important for mortgage bankers--upon hearing bad news--to not be discouraged.
A negative mindset is an almost certain way to stay in a rut. It's like trying to get out of a hole by digging instead of climbing. No matter how bleak things may appear, the most important thing for achieving success is to maintain a positive mindset. Why is this the case? Because if you're not optimistic about the future, you aren't going to try.
Optimistic people engage in optimistic behaviors. When you adopt a positive mindset, you try things out that you think might work. It keeps you moving forward. And, if we're going to turn these numbers around, we've got to keep moving forward. So, no matter how tough things get, stay positive. Those who do will find themselves coming out on top when the storm clears.

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.


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