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 »
In financial investing, there is a debate that has gone on for years: Can a non-expert or someone who randomly throws darts at a list of financial stocks make better stock picks than a professional money manager? Known as the “dumb money” strategy, this approach was made famous by Princeton University professor Burton Malkiel. In
Does a “Dumb Money” Strategy Make Sense in Selling? Read More »
Mortgage origination has always had boom and bust selling cycles. When the good times roll, originators do well and are so busy closing loans that it seems there is little room for other sales activities. But when the boom cycle ends, originators can be in peril of losing their jobs and their income. The seesaw
Three Ways to Correct Boom or Bust Selling Cycles Read More »
The refinance market seems to finally be coming to end with the recent interest rate increase. While the writing has been on the wall for a while, it is amazing how many managers and their companies are acting shocked. The most striking thing about it is how many are unprepared for what has been discussed
Black Swans and Mortgage Sales Read More »
Mortgage origination is booming —largely thanks to marketplace changes precipitated by Brexit. In my conversations with originators and managers across the country, everyone seems to be having a great summer. However, during a refinance-driven market, it’s easier for companies to ignore poor sales behaviors when customers are contacting originators for a lower rate. This year,
Are You Missing This Hidden Opportunity in a Boom Market? Read More »
