NMP - September 2016 - 50

The Millennial Mi hen I was approached about writing an article from the "Millennial" perspective explaining my thoughts on the mortgage industry, buying a house, taking out loans, etc., my response was, "What thoughts?" As shocking (and quite honestly, shameful) as it may seem, I believe this-let's call it, the Millennial Mindset-is common among all individuals in the 18- to 30-year-old range. So what exactly is this Millennial Mindset? Well, drawing from my personal experience and the collective experiences of those around me, I would define it as a frame-of-mind cultivated by notions of immediate gratification, as perpetuated by our fast-paced, high-tech American society. I am certain that some of you Baby-Boomers have watched your beautiful, innocent, bikeriding children evolve into techmongering teens (notice that I say "watched" because I can bet that most of you have not yet managed to shatter the barrier between you and your kids-I am referring to the thin glass of their iPhone screens-leaving you to sit by hopelessly and watch, rather than engage. But don't worry, they will come around ... when their Pokémon Go crashes and they have nothing else to do besides sit and chat with Ole Pop). All joking aside, "breaking through" is a difficult feat and you are most certainly not to blame ... and honestly, neither are we. With societal pressures to get our BA (Masters, Ph.D.), land a lucrative career and a lifelong partner, on top of recent W SEPTEMBER 2016 n National Mortgage Professional Magazine n NationalMortgageProfessional.com 50 technological advancements: Instagram, Tinder, Facebook, Snapchat, etc., there is simply no chance of getting us to expend our energy upon something that will not affect us RIGHT NOW. How can we look at the bigger picture when the world around us is demanding that we look at a two-inch by five-inch inch screen? My theory is, the instant gratification that our cellphones and laptops provide have conditioned our brains to operate in short-term timespans. Now, I am a 21-year-old UCLA student currently gunning for two BA's-one in communications and the other in Italian-while simultaneously holding down the fort at the UCLA Extension Writers' Program, managing several organizations on campus, and doing freelance writing projects on the side. I have also been fortunate enough to grow up in an incredible household with loving, supportive, and communicative parents and an older brother whom I have watched deal with the ups and downs of adulthood-more often than not surfing the waves of the mortgage industry, trying to stay above water. On paper, one would say I have been supplied with the proper tools and experiences to approach my future with confidence, stability, and patience. However, despite my efforts (and theirs), I still find myself overdosing on Starbucks, In-N-Out and shoes, consequently rummaging through my pockets and old birthday cards at the end of the month, searching for spare change to make rent for my overpriced, LA apartment. No matter how responsible, wellrounded or prepared I consider myself, when it comes to matters of saving and investment-I am simply hopeless. The truth is, the only matters of loans and investment that we Millennials are concerned with, are those pertaining to our college educations. Regardless of how quickly we would like to jump into our futures ... there is still that looming, dark presence clouding any sense of hope (aka college debt). If one were to ask us about alleviating the stress of future prospects, I can guarantee the first thing on our list is not buying a house, it is escaping that seemingly perpetual doom. However, what we tend to forget is: Just because we are completely consumed by this struggle, it does not mean all other struggles are at a standstill waiting patiently until we get safely situated in the saddle. In fact, they are currently snowballing alongside us and if we do not address them now, the black hole of adulthood will swallow us whole. With that said, I can assure you that most of us would rather wait until we are in the middle of that black hole, moneyless and homeless, to address it-at which point we will come banging down the doors of the nearest mortgage company, begging the loan officer for help. Now this is one method, but it is certainly not the most efficient or healthiest regarding long-term goals. Gradual investment is practically a foreign concept to the Millennial generation, as we need to learn to walk before we can run and embrace the necessary baby steps toward that white picket fence (or if you are like me, toward that 1960s postmodern home). This is where you come in. As I said, we will come running when the times comes, but you can do more than sit around hoping that the doors we bang down happen to be those of your mortgage group. It is all about planting the initial seed. Be it an Instagram ad, or a workshop on our college campuses, you have to convince us that mortgage loans are easy, simple, accessible ... and that you are different from the thousands of other companies inundating our inboxes with complex advertisements. Quite honestly, I could not care less about advertisements reading, "Do you need help lowering your annual percentage rate?" or "Are you looking to take out an adjustable-rate mortgage loan?" That might as well be written in a Slavic language. I would much sooner respond to something that said: "Scared sh#@less about the day you are going to buy a house?" or "Sinking in college debt, and trying to evade further homeowner debt? Even, We bet you never thought about the day you're going to buy a house until you read this ad ... fear not: XYZ Mortgage Group is here to save the day." Obviously, these taglines are a little rough around the edges, but you get the point. As silly as it sounds, what would resonate with me is something that does not criticize me for being clueless. In fact, I would like to be reassured that there is a team out there that is going to cater to my lack of knowledge and ease me into the mortgage process. At the same time, I do not want to spend hours learning the ins and outs of the mortgage industry. I do not have time for a five-course meal. I want a nice, super food protein shake that I can sip on my way to class. Given the two features of the Millennial Mindset that I have discussed: Short-term thinking and technological adeptness, http://www.NationalMortgageProfessional.com

Table of Contents for the Digital Edition of NMP - September 2016

Table of Contents
NMP - September 2016 - Cover1
NMP - September 2016 - Cover2
NMP - September 2016 - 1
NMP - September 2016 - Table of Contents
NMP - September 2016 - 3
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