We always enjoy hosting webinars with Frank Garay with The National Real Estate Post and Barry Habib, founder of MBS Highway. This webinar “New Strategies for a Changing Market” is no exception. Tom Hutchens, EVP of production, joins Frank and Barry in a discussion on where the market is today and what changes need to be made. It’s the end of the year and time to make plans for 2019. As well, it is a different time to be in the mortgage industry with many changes. It is time for a new way of thinking! Rates are still increasing and refinances are down 40%. This is the lowest since 2000 and if you are not coming up with a new plan that includes non-QM you might not see much growth potential.
One suggestion is that originators need to respond more as advisors. Advisory thinking, move up purchases and refinances are all discussed with a new approach based on a new thought process. Real life scenarios are played out and the plan of action on what happened that resulted in a closed loan is detailed. The business tools and resources used are shared so that you can achieve the same results for your loan scenarios. This webinar is very useful in that it offers solutions to challenges common in the market.
You will hear that the opportunity lies in non-QM. Many deals are lost because people do not understand the products or know they exist. A self-employed borrower earning $200k annually with excellent credit should qualify for a loan. The problem is that tax documents do not prove their ability to repay the loan due to write-offs. Bank Statements are required to prove the ability to repay. Another example is the borrower who had a recent credit event and is ready to purchase a home again. Tom goes over a situation where a borrower was able to close on a $1.3 million loan using one of our loan products.
Watch the webinar and find out the tools and resources you need to grow your business further. Also, get the answer to the loan products that helped the borrowers mentioned get to the closing table.This webinar is full of ideas and information on how to grow your business despite all the challenges we face today in the market.