I’ll be blunt.
The economy is shifting. Rapidly.
The fed keeps raising rates. Home inventories are tight. The refi market is less than half of what it used to be. Even from just a year ago.
It’s worse than expected. The same loan officers are fighting over all the same business. Competition is twice as fierce.
Look if you haven’t figured it out…it’s the economy stupid.
If you haven’t recognized this yet…you got a big problem.
Question is what are you gonna do about it?
You’re a micro guy in a macro world.
When your my business was 60% on the purchase side, 40% percent refi.
And refi’s are half what they used to be, that’s 20% of your loans GONE.
That means you don’t take a vacation. Hell, might mean you’re dipping into savings just to get by.
In order to make that money back right away you need to create new business.
Who has that?
The economy is harder than it’s been and you need to do “something” about it to prevent armageddon.
If you want to keep last year’s volume and avoid armageddon…