The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Mortgage

Can the mortgage workforce demands of 2020 stand the test of time?

The mortgage workforce movement

HW+ mortgage workforce

Four months into the new year and conversations among mortgage executives were focused right back on the same issue that always happens after a mortgage boom — LO comp.

Three mortgage executives were virtually gathered to talk about the routine topic at the Mortgage Bankers Association’s Spring conference in April. The session was a part of the MBA’s decision to merge its usual succession of conferences into one, lump virtual conference due to the pandemic.

“It’s hard to go to your loan officers and tell them they’ve got to reduce their commissions,” Eric Gates, president of Apex Home Loans, said at the time. “There are some other tools — we implement dollar minimums and maximums with everyone. And we do have conversations and show the math on that — if they’re willing to lower their maximums then they can be more competitive on larger loans.”

All three executives shared similar sentiments about waiting too long after the refinance boom of 2018 to adjust pricing, a move that is both extremely sensitive but vital to the health of a company. But as the industry readies for the turn of another calendar year, the waning refinance boom’s impact on LO comp has only grown, with compensation now being one factor in a much larger discussion around what the mortgage workforce will look like moving forward.

The aftermath of 2020’s surge in demand lingered around in 2021, but between extra staffing, a pandemic that forced everyone to work from home and a shift in where the need is, the mortgage workforce is going to have to make some changes heading into next year.

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