Bullish on the Future of Brokers

Ellie Mae chairman and CEO Sig Anderman is bullish on the future of the mortgage broker, he told MortgageWire during an interview at the Mortgage Bankers Association convention in San Francisco. Secondary market investors are not going to go directly to the consumer and therefore there will still be a need for mortgage brokers and correspondent originators in his opinion. The same entrepreneurial skills that led to the rise of the mortgage broker will still come into play, including the ability to do a loan at any time, in any place, Mr. Anderman said. If the broker is not willing to jump through hoops to meet the customer's needs, it will not get the loan and be out of business. Right now it is a great time to start a lender. He foresees the use of technology to "create a perfectly efficient wholesaler," with all the processes done digitally. It is vital that a lender that is new in 2008 still has processes that look new in 2018. Mr. Anderman has put his money where his mouth is, with Ellie Mae providing technology and seed capital into a pair of new companies ready to be launched in the first quarter of 2009.