For mortgage brokers, it’s a question of stayin’ alive…

It ain’t easy being a mortgage broker these days.  It seems that brokers unfairly took the brunt of the blame for the subprime mortgage crisis, and they’ve been paying the price ever since.  The ongoing regulatory saga concerning loan originator compensation is only one of many changes that make it very difficult just to operate on a day-to-day basis for the independent broker.

There is, however, opportunity for small originators.  The field of competitors is thinning.  There is still place for a business that is flexible and fleet of foot.  However, for the broker, that means perhaps more planning than ever before.  Today, “planning” includes contingencies for just about anything–a mini-bubble burst, yet another regulatory challenge, or a roller coaster market demand.  “Winging it” is simply no longer an option, and the savvy broker will tap into available resources to ensure he or she is ready for what’s next.  Indeed, simply staying in business may yet prove to be a competitive advantage in and of itself.

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