topLO

In this rapidly changing industry, no one stays on top very long, and no one knows who the next champion is going to be.

Why shouldn’t it be you?

BY KATIE JENSEN, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL MAGAZINE

Throughout the past year, certain mortgage companies have shown resilience while others have downsized, gone bankrupt, or have been eaten by bigger fish. At the same time, a similar effect has taken place among loan originators. Some have proven their talent and resilience by staying on top of their production while others have shown their success to be a passing phase.

Many originators, old and new, took full advantage of the refinance boom during the pandemic, but forgot to make hay while the sun was still shining. In other words, not everyone had the foresight to prepare for when interest rates would eventually ratchet back up. The hikes were swift and brutal, causing companies and originators across the nation to fall from a great peak.

Although many would expect the industry newcomers to be the ones to fall while industry veterans get back to doing business as usual, that isn’t entirely the case. Some newcomers were mentored the right way and their production began taking off in 2022, while some veterans continue to struggle to this day.

In this market, many originators are struggling to find the right mindset or the inspiration to pick up their production. The industry needs a new hero to look up to, someone with a positive mindset and a winning business strategy that could demonstrate to the masses that it is possible to thrive in this environment.