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The industry fears AI will ultimately replace everyone, from operations to loanofficers. As a loanofficer , I am not losing any sleep, and here is why you should not, either. was curious about what he was doing as I always looked for ways to improve my client experience.On Absolutely not.I tale as old as time.
This move grants loanofficers access to real-time insights that are designed to improve borrower assistance and engagement. Loanofficers on the Uplist platform can now leverage Pollys product and pricing engine (PPE) to more easily pursue refinance opportunities.
Entering the mortgage industry as a loanofficer can be both exciting and overwhelming. Within five years, these individuals and their referrals will become your clients. Treat them with kindness and respect because, you never know, they could eventually become a future client or referral partner.
Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loanofficers in North Carolina. After Mike paid his loanofficer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.
and home prices still near record highs, homebuyers are demanding that their loanofficers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9%
Traditional loanofficers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators. Heres how the mortgage industry is changing and what loanofficers must do to thrive. Ensures decisions align with clients long-term goals.
It’s a tough time to be a loanofficer. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. Amid all the chaos, loanofficers may be pressed to get creative when it comes to generating new business. There are thousands of loanofficers out there.
New American Funding (NAF) has snagged top Chicago loanofficer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.
Optimal Blue on Monday announced three major product releases — the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. ” The announcements were made at MBA Annual in Denver.
For loan originators , managing the narrative is crucial. The messages you convey to clients, referral partners, and even yourself can significantly impact your success. Use this information to educate your clients and referral partners. An informed client is a confident client.
I’m going to start by making Rate the absolutely best place for every single loanofficer to work at figuring out ways in which we can develop them, give them all the skills, the coaching , the mentoring and the tools, so they can have an amazing business, but also better serve all their clients and all their partners.
At their best, LoanOfficers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. Building Client Trust This one is just an unqualified win. Just as preventive healthcare is the best healthcare, so is preventive financial care the best.
“His extensive experience, industry accolades, and client-first approach make him a perfect fit to lead our North Carolina team and strengthen our partnership with Coldwell Banker.” At Movement, Rawls started as a loanofficer before taking over as producing bank manager.
Over the years, Ive observed a glaring issue that stifles the growth and success of many mortgagecompanies: promoting top-producing loanofficers into management roles without equipping them with the tools, training, or even determining whether they want to be leaders.
Many investors had expected the Fed to cut benchmark rates as early as March, and loanofficers had hoped to see a decline in mortgage rates that tend to move in tandem with long-term yields. Saghafi has clients who recently decided to pull the trigger and move to a bigger house by selling their home that had a 2.375% mortgage rate.
Providing presentations on whether to opt for a conventional loan, Federal Housing Administration (FHA) loan, Fannie Mae ’s HomeReady or Freddie Mac ’s HomePossible loans while winning over contracts in a multiple bid environment are key to creating client stickiness, Lotsoff added.
The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loanofficers up at night. Wax said about 50 to 60% of his clients are first-time homebuyers. of loans in October, according to the MBA.
Sean Shallis, a “Recovering Realtor” and top-producing loanofficer , is offering strategies to help realtors break through this stagnation by leveraging micro-market shifts to create urgency and inspire action. Leveraging micro-market shifts Realtors have an opportunity to use local market changes to drive urgency for their clients.
The platform is intended for housing professionals in various sectors, including 5 million loanofficers, appraisers , servicers , underwriters , developers, agents, brokers, attorneys and regulators. Through Araya, CoreLogic will give customers access to the data and analytics of nearly all U.S. properties on one platform.
Kortney Lane-Schafers has been promoted to vice president of growth and client advocacy at Mobility Market Intelligence (MMI), which offers data intelligence and market insight tools for the mortgage and real estate industries.
Should the goal of marketing technology be to make it so that a loanofficer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Today, “CRM” encompasses far more than just contact management.
Top-producing loanofficer Christopher Keelin has taken his 80+person team over to CrossCountry Mortgage to “take advantage” of the lender’s technology while scaling his business. Being a consultant has helped Keelin retain and grow his client base, especially in his main markets of New Jersey and Florida.
The new credit optimization platform will combine the best parts of the What-if Simulator and Wayfinder tools, giving mortgage professionals the power to reach more clients and close more loans. CreditXpert developed the platform to cut down loan filing timelines. 1 in preparation for the launch of the new platform.
Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The client had just started a new job, and that can be tricky. Loanofficers said that the FHA’s waiver will give borrowers a fairer shot at obtaining financing.
Equally important is the ability to proactively and automatically detect within an existing customer database who is ready to buy, so loanofficers can reach out to those borrowers before they even act. Sales automation solutions like ICE Velocify help them connect with borrowers faster and stay one step ahead of the competition.
And, in the mortgage industry, AI will play an instrumental role in helping loanofficers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Ghamsari: I think on the AI piece, it’s about combining an understanding of what the client is trying to accomplish.
Rocket will match homebuyers with the best real estate agents and the best loanofficers across the combined companies. Drive purchase mortgage growth: The transaction will generate significant revenue synergies across search, real estate brokerage, mortgage origination, title and servicing.
A big reason for that is loanofficers don’t always ask the right questions to understand the borrower’s real needs.” By asking referral partners thoughtful questions about their clients and their approach, I show that I’m focused on creating tailored solutions to potential problems,” Nelson said.
In a new episode of “The LoanOfficer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. Before, I wasn’t making friends with clients. It was over 100 units.
Through the partnership, loanofficers can introduce their clients to an RIA within Encompass. Halcyon is helping diversify revenue and strengthen borrower-lender relationships with their new registered investment advisor (RIA) Offering,” Halcyon said in a news release.
Dark Matter Technologies makes it a priority to stay ahead of these trends, ensuring our clients have the right tools to scale efficiently when market conditions change. Over time, many organizations have accumulated toolsoften to accommodate branch acquisitions or high-performing loanofficers but arent fully utilizing them.
Erich Wiedel: When I was in high school, a friends brother-in-law owned a mortgage company, and I got a job as a loanofficer. Many of the clients we acquired during that initial marketing campaign remain valued partners today. By placing consistency at the forefront, our clients can trust us to deliver on every file.
” Lindsay also expressed excitement over the opportunity to help clients in Washington. “As the market stabilizes, I look forward to helping clients achieve their home financing goals with the support of Rate’s unparalleled technology and commitment to low rates.”
Good loanofficers are what will help our business grow in a big way, and we try to support our loanofficers in a way that they can generate their own business and not become reliant on leads. said that connecting with borrowers in a substantive way begins with the salesperson they first come into contact with.
Our new platform brings unprecedented speed and certainty to home financing, helping loanofficers and their clients win more deals. zavvie said that HomeFAI adoption has surged 155% year over year, with 83% of loanofficers switching to the new app that’s available in all 50 states.
Mortgage veteran Donny Panasis has joined Embrace Home Loans as branch manager of its Viera, Florida office, where he and his team will originate loans for both existing and new construction homes. Panasis previously served as a loan originator for The Mortgage Firm and TD Bank.
It started 2024 with 18 loanofficers and finished the year with about 90. The company also anticipates launching a version of Leo for clients later this year. The company said about 40 independent brokerages with about 2,200 agents in total joined under these terms. Real also added head count to its nascent mortgage business.
In an environment where 30-year fixed mortgage rates are racing towards 8%, loanofficer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. Is an 8% mortgage rate going to slow down business for all loanofficers?
Mortgage technology company Uplist has launched what it says is a killer new tool that will help loanofficers automatically generate refinance options for their clients. Loanofficers can also put in lender-offered concessions that will change the pricing. ” You’re like, ‘What are you doing?'”
Loanofficers took to social media to support the “long overdue” legislative proposal. “I Another loanofficer in California noted that clients get a lot more calls than before from competing lenders after a credit inquiry, causing confusion to consumers and making business a lot harder for LOs. “It
Roberts and thousands of other loanofficers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. There’s just more buyers than there are sellers,” added Steven Grossman, chief strategic officer at NJ Lenders.
The partnership will boost loanofficers ’ capacity to deliver personalized, efficient and tech-powered solutions directly to their clients and agents. Meanwhile, LoanPASS’s flagship products and pricing engine (PPE) automates product and pricing decision-making for all loan products.
When these clients are then connected with the best agents and the best loanofficers, it creates a virtuous cycle. Now, by joining forces with Rockets 3,000 loanofficers and expansive mortgage broker network, were building a highly efficient funnel that matches motivated buyers with top professionals.
John Abraham, former top-producing mortgage loanofficer at Caliber Home Loans /NewRez , has joined The Money Store. The Money Store boasts a nimble lending platform, transparent loan process and highly competitive rates. “The Data shows that the lender has 28 branches and 100 active loanofficers.
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