Who isn’t? With the forecast for rising mortgage rates, limited home supply and fewer refinances, mortgage lenders and banks will be fighting to grab a bigger piece of a shrinking pie.
Although 2017 is forecast to be a pretty good year for home purchase financing, with so many lenders vying for this business things may get tough. Especially for those lenders that have come to rely mainly on refis for their income. Hopefully, you’re not one.
There are only a few ways to increase production.
- More experienced originators
- Open new branches
- Service new markets/customers
- Offer new products
Opening new branches and acquiring experienced originators can get a little expensive. So, maybe you should concentrate on new markets. To do so, you may need new products. Products that you may not currently offer like:
- Low down payment conventional financing
- Renovation financing
- Alt-A and non-QM loans
If you’re interested you are in luck. At this year’s Regional Conference of MBAs, taking place in Atlantic City the week of March 19th, at the beautiful Harrah’s Resort & Casino Conference Center, I’ll be moderating a panel discussing just this issue.
This session will present specific alternative loan programs available to you today that will help you service more markets and reach more customers.
We’ll talk about the how to, the why, and the best way to originate these products and how they can help you generate more business and income. All you need to do is be there and listen. You may learn something that can help you and your business to grow.
You can lead a horse to water, but you can’t make her drink. If you thirst for more production and more income, make it a point to attend the conference and this panel. Drink your fill of the information, products, services, networking and knowledge that is the Regional Conference of MBA’s.
Look forward to seeing you there.