As volatile conditions continue to dominate the mortgage marketplace, many lenders and LOs are struggling to hit production goals. While there is no quick fix for the myriad of challenges mortgage managers are facing, there are definitive steps LOs can take to build market share and stay in the game. They are: Select a […]
Three Strategies LOs Can Use to Build Market Share Read More »
In my recent conversations with senior executives, many sales leaders are panicked about their drop in sales volume and how tough the remainder of the year looks for their organizations. While the refinance boom’s record profits are quickly fading in the rearview mirror, the traditional purchase money market looms large on the road to success
During Volatile Markets, Referral Relationships Matter More than Ever Read More »
The latest MBA industry forecast indicates a precipitous 62% drop in refinance volume for 2022. I think that all managers knew this day would come and it has finally arrived. The refinance party is over. The key question for leaders: What strategies will they implement to generate loan volume in a purchase money environment?
What Bill Parcells Can Teach Mortgage Bankers Read More »
Last week, the MBA adjusted its 2022 forecast predicting that refinance lending will account for just 25% of total loan volume vs. the current percentage of 53%. This will be a 28% drop, a significant decline that could put many mortgage lenders on the ropes. While the last two years generated record profit for
The Number 1 Strategy for Surviving the Refinance Decline Read More »
During my recent conversations with sales leaders, managers across the board expressed concern about their originators adapting to the new environment of rising interest rates and the shift to purchase money. The decline in refinance business is a reality with mortgage applications dropping 43% in the last week, according to the MBA. This raises
Facing a New Reality: Five Ways to Win in a Purchase Money Market Read More »
