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 »
A shift towards a purchase-heavy market means a decline in profitability for mortgage lenders. 2018 has proven to be a tough year for lenders fighting to stay profitable in the face of margin compression and industry challenges. According to HousingWire, the first quarter of 2018 was the worst quarter for independent lenders in terms of… Read more »
We are relentless in our dedication to improving the mortgage loan experience. We are constantly scrutinizing the loan process from end to end to identify pain points that we can help lenders alleviate with digital mortgage technology. Our simple, customizable 1003 has long been lauded by borrowers and lenders alike for its ease of use… Read more »
There’s no denying that 2018 has been a tough year for mortgage lenders. Longer cycle times, lower refinance volume, and increasing costs to compete for borrowers means tighter margins. In Q1 of 2018, loan origination costs increased to $8,957 per loan. As loan costs rise, how can lenders stay profitable? Lenders across the nation have… Read more »
With digital technology rapidly becoming a mainstay in the mortgage industry, it would seem that the mortgage process is being reinvented. And yet, the mortgage process is still rooted in tradition—or, at least, in the traditional reliance on face-to-face connections and longstanding relationships. As a mortgage lender, your reputation precedes you. How you build that… Read more »
Forging a close professional relationship with an agent is one of the most valuable things you can do for your lending career, but empty promises and miscommunication from LOs has made many agents hesitant to collaborate with lenders. We spoke with a number of agents to get some first-hand advice about what loan officers should… Read more »
Savvy lenders need to be able to manage their loans in any location and on any devices. If you’re out and about, having to pause your day to run back to the office to pull a credit report can seriously impact your efficiency (and likely your mood). At Maxwell, we’re all about enabling our lenders… Read more »