Grow Your Investment with Private Mortgages: Tap Niche Markets & Improve Service
There are several areas of opportunity for lenders in a bad mortgage market. One is to purchase mortgages from other lenders who are struggling. This can be a great way to increase market share. Another opportunity is to focus on niche markets, such as loans for self-employed borrowers. These loans can be more difficult to service, but there is usually high demand for them. Lenders who are able to successfully service these loans can often command higher prices. Finally, lenders should focus on providing excellent customer service. This can be a differentiating factor in a bad mortgage market, and it can help to build loyalty among borrowers.