The mortgage industry has experienced drastic changes since the second quarter of 2021, when nearly one hundred thousand loan originators, also known as LOs, left the market. This event has left many longtime professionals in the dust and created a new, uncertain landscape. Now, the focus shifts to identifying who will have the best chance of success in a recovering market.
Below are key points to consider in the current market:
• Identifying Trends: With LOs leaving the market, those who remain must be able to identify key trends in the mortgage sector and determine which are more likely to produce successful outcomes and positive returns.
• Adapting to Change: LOs must be able to quickly adapt to changes in the landscape. This means being prepared for a variety of lending scenarios and being knowledgeable about federal and market regulations, to ensure that transactions move forward without unnecessary conflicts or delays.
• Understanding Market Volatility: In times such as these, it is important to understand market volatility – that is, the risks and rewards associated with mortgage products, and the capacity for market manipulation or abrupt changes in the market climate.
As the mortgage market continues to evolve, it is imperative that LOs keep an eye on the landscape and remain agile. Those with in-depth understanding of the market volatility, knowledge of current regulations, and the ability to identify trends will be the most successful when the market rebounds.
You can read this full article at: https://www.housingwire.com/articles/datadigest-nearly-100000-los-have-washed-out/(subscription required)
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