We all know the industry is in a state of margin compression, and will most likely continue to be for the foreseeable future. One of the most important levers in increasing margin is increased productivity. At Maxwell, we’ve witnessed how technology, when used and implemented correctly, can have drastic improvements on a lending group’s… Read more »
It seems like every day I see another article in HousingWire or MBA detailing the case of someone who was caught committing mortgage fraud. The biggest threat right now in the industry might seem like margin compression and increased competition, but don’t sleep on the rising threat of fraud. In 2018, mortgage fraud risk rose… Read more »
Competition is booming for lenders, and with profitability already a struggle in today’s market, how you market your services can make all of the difference. Loan officers wear many hats, the “Marketer” hat chief among them. But while managing your workload, it’s easy to fall behind the marketing curve. We’ve pulled together some best practices… Read more »
The rise of digital mortgage software has gradually revolutionized mortgage lending from end to end, infusing the cumbersome origination process with intuitive digital technology to smooth out the oft-encountered bumps in the road on the journey to home-ownership. However, despite technological innovation, disclosures have continued to present a challenge for borrowers, lenders, and technology vendors… Read more »
2018 has finally come to a close, but don’t let that sigh of relief escape from your lips just yet. It’s been a challenging year for many mortgage lenders, and while the 2019 forecasts look somewhat more promising, many of the issues that affected the mortgage industry this year will persist into the new year.… Read more »
A solid customer experience is built upon a foundation of education, transparency, and communication. Borrowers want to feel like their loan officer is always two steps ahead in terms of prompt, transparent communication. We’ve written about how to communicate more effectively with borrowers, but we wanted to dive a bit deeper into the subject to… Read more »
As we close in on the end of the year and reflect back on 2018, there are a number of lessons to be learned. 2018 has proved to be more difficult for mortgage lenders than anyone anticipated or prepared for. The severe margin compression at the start of the year—felt most dramatically in Q1, with… Read more »
Back in August, mortgage originators from around the country descended on Sin City to test their luck at the roulette table, network with fellow originators, and learn from some of the best in the business. Conference mayhem was in full swing at Originator Connect 2018. As with any great conference, Originator Connect 2018 featured a robust… Read more »
At Maxwell, we know that the mortgage business is a people business—that is, the success of mortgage lenders relies on their ability to a) delight borrowers going through the mortgage process and b) build fruitful and long-stand referral relationships with real estate agents on the other side of the process. Though Maxwell’s digital mortgage platform… Read more »
You likely know who your most productive loan officers are—they’re your LOs who deliver the most volume. But do you actually know which loan officers are the most profitable? Do you understand the discrepancy in profitability amongst your team members? Are your LOs completely maxed out in terms of productivity, or do they have… Read more »