Featured Insight

The Sport of Mortgage Banking The Power of the Playbook

May 2022

To persevere in the sport of mortgage banking requires a team to be constantly adjusting, adapting, and preparing for the next season. As you prepare for this challenging season, are you focused on putting up your best Defense to hold your current position or have you been investing in an Offense that can put more points on the board? A comprehensive playbook including a strategy for cost management along with a focus on sustainable efficiencies, a robust training plan, and market growth initiatives will be a powerful tool for those looking to win for years to come.

The mortgage industry is undergoing a transformative shift. With rates increasing faster than expected and housing inventory at continued lows, mortgage volume is likely to remain at these decreased levels into the near future. Adding to the pressure is an industry that has 2X the capacity for current volumes, which is leading to irrational pricing and significant pressure on margins. The combined impact has led to a series of defensive moves in attempts to protect the bottom line. While the urgent need to create efficiencies and shed excess capacity is necessary to survive in this market, focusing on big plays to grow volume, increase revenue and implement process efficiencies is vital. Technology and process improvements, product development, capital market and servicing strategies, retention plans, and advancing the consumer experience remain strategic imperatives.

There is not a one size fits all solution and the companies who know their end goal are the most likely to survive and thrive over the coming years.

What’s in your Playbook?

Read More