Recently, a number of factors have come together to decimate the profitability of the mortgage banking industry. To regain its footing, the industry must return to mortgage banking fundamentals.
The mortgage industry has survived the financial crisis. Operations which had been running smoothly prior to the crisis became ineffective in this new world.
Now that the mortgage industry has stabilized, the challenge is to adjust operating models to reflect this change. As an industry, we must re-examine – and possibly undo – the now-excessive controls caused by the financial crisis to gain back our economic viability. A careful examination of each function within the mortgage business will determine if there is a better approach that will save money and improve long-term profitability.Download