NOV 14, 2012
What We're Hearing

Only LOs with Realtor/Builder Ties Need Apply?

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It’s time to think ahead a bit to the Spring of 2013. Around then refinancings will begin to wane (maybe) and smart mortgage bankers will begin concentrating on (hopefully) a vastly improved purchase money business. All this assumes, of course, that our elected officials in Congress can work with President Obama to fix the ‘fiscal cliff’ mess, thus avoid crashing the U.S. economy and causing the unemployment rate to spike. One thing we all know is this: unemployed Americans don’t tend to buy homes. When a strong purchase money business finally develops it will mean that residential loan officers with strong ties to Realtors and home builders will be worth their weight in gold.  

Comments (4)
That is one thought. Another is MLO's need to get marketing geared upt to get the buyers first.
Posted by D | Wednesday, November 14 2012 at 4:39PM ET
Agree with the first comment. This article assumes that originators are only capable of filling orders placed by Realtors and their clients.

Skilled marketers have no need for Realtors in terms of deal flow. LO's who generate their own buyer pipeline will dictate which Realtors get to fill the orders for a new home placed by the originators approved clients.

Any LO depending on their relationships with Realtors or builders to supply their deal flow won't be worth their weight in lead much less gold.

Anyone clinging to this antiquated view of the market hasn't been paying much attention to the market over the last 5-10 years. Realtors have less control than ever over their clients financing decisions as the internet and other technologies make finding a lender (or Realtor) easier than ever.

Posted by J Lewis | Wednesday, November 14 2012 at 4:55PM ET
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