Mortgage Leaders: 3 Ways to Overcome Margin Compression
Pragmatic ways to overcome the market challenges manifesting in a post-pandemic financial world.
After peaking in April 2020, mortgage margins have steadily narrowed, with more than half of lenders expecting profit margins to further decline in the months ahead. Mortgage leaders cite growing competition and a market shift from refinance to purchase as the primary reasons for the squeeze being felt.
So how can you overcome it? Focus on three tried-and-true tactics that can help insulate your lending business against any market pressure.
Learn How To:
Own referrals and retain preapprovals via strategic partnerships with realtors and homebuilders.
Advocate for borrowers—especially in servicing.
Recruit and retain the best and brightest loan officer.