The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Mortgage

This techie mortgage broker has cleared $1 billion in originations this year. And now Thuan Nguyen is scaling up

HousingWire sits down with Loan Factory owner and broker Thuan Nguyen, who's entered the "Billion dollar LO club" this year

Thuan-Nguyen

In 2013, Thuan Nguyen was working out of his chaotic office in the heart of Silicon Valley. You’d find him there from 5 a.m. to 11 p.m. At that point, Loan Factory had about 200 loans and just 13 employees. They hustled, too.

“The office was like a market,” Nguyen recalled. “It was so noisy, stuff was everywhere. We couldn’t keep track of things. It was crazy. And now we have 20 times the volume, and people have a peaceful life. And it’s because of the software, because of the technology. Quicken Loans, see how big they are? How much volume they can push through so quickly? I think it’s all because of the technology. They prepared for it.” 

Nguyen, who emigrated from Vietnam to the United States and fell into the mortgage business about 14 years ago after leaving an unsatisfying career in finance, has capitalized on the historic mortgage boom like few others. Though plenty of loan originators and brokerage executives are stuffing their pockets with cash, his approach is rare – he personally develops his own software and sells it to other brokerages. 

Nguyen, who claims to be on track to personally originate $1.5 billion in volume this year, is in full expansion mode. His West Coast-centric operation is moving through the Gulf into Texas, Florida and following the Stream into Edison, New Jersey, a community with a fast-growing South Asian population. It’s part of his business thesis – investing in upwardly mobile communities where homeownership is a cultural value. He now has 12 offices, and he plans to open 10 additional offices by the end of 2021.

HousingWire caught up with Nguyen to talk about the up-and-downs of brokerage, clearing $1 billion in originations this year, the IPO craze, how to transition from a refi market to purchase market, and developing bespoke technology for brokers. 

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