COVID-19 has made for a strange mix of highs and lows for the mortgage industry. The number of restrictions that have been put into place by the U.S. Government has affected many businesses across the country, though, the effect on companies in the mortgage industry has been quite interesting.
Companies have been sending out email memos to their employees and a few of them within the industry point to a "business as usual" mindset, while urging employees that preventative measures are being put in place.
"I wanted to personally reach out to assure you all that Alpha Funding Partners will be operating business normally throughout this tough time. We have been working around the clock to ensure that there will be no potential disruptions and business will go on as usual," read an email memo from Fred Assini, CEO, Alpha Funding Partners.
"Luckily, we have the security and support through our cloud-based platform which will allow our staff to to work from home and still give 100% of their attention to our clients."
Similarly to Alpha Funding Partners, RES/Title has decided that 95% of the company will operate remotely. Other companies like MCM Capital Solutions have also issued similar emails. Though MCM Capital Solutions is still operating within their offices.
"We are taking our own precautions to make sure our space is cleaned & our employees are healthy," read MCM Capital Solutions' email memo.
"MCM wants you to know that we are open for business and actively lending. We have been working around the clock to ensure that there will be no potential disruptions and business will go on as usual."
The scramble for companies to continue to operate as usual comes from an increase of buying activity due to the drop in mortgage rates. Some companies were even forced to increase the amount of personnel to keep up with higher volumes.