Magazine article Mortgage Banking

The Sky's the Limit

Magazine article Mortgage Banking

The Sky's the Limit

Article excerpt

THE WHOLESALE AND CORRESPONDENT CHANNELS ARE ALIVE WITH NEW AND OLD companies that are seizing the opportunity, right now, to grow their businesses. Even though production volume is down for many companies, a select few see this as the perfect time to build out their origination platforms. They are hiring account executives like mad, and feverishly opening new offices around the country. There's a kind of seize-the-day mentality to it.

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And it seems so counter-intuitive with rates set to rise.

Yet, the managers in these companies are the savvy veterans who have built and managed successful companies before--and have lived through the postboom cycles. They know what to do and what not to do. They say you don't want to price insanely just to get the scraps of business that everyone's fighting over. But you do want to make sure your product menu has a full complement of all the latest bells and whistles. And you want to take good care of your customers--but, first, you want to know which customers you want to keep.

In this issue, we profile some of those wise and successful competitors in the wholesale/correspondent space. …

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