Posted To: Pipeline Press
At the recent MBA conference, plenty of discussion focused on non-QM lending. But plenty “off the record” discussions among execs mentioned changing LO comp and waiting for competitors to fail. Correspondent investors and warehouse banks all maintain a watch list of mortgage companies who are losing money and appeared to be ready to cut off those customers who cannot restore profitability in the 2nd and/or 3rd quarters of 2018. The STRATMOR Group weighed in on profitability below. Profits and Volume Volume is one thing, but is your company making money? If “yes,” then good. Did it make money in the last quarter of 2017 and the first quarter of 2018? If the answer is “yes” again, that’s superb since it seems nearly every other residential lender lost...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily https://ift.tt/2J1nP9U
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