Too much success hurts home loan company

Box Home Loans was previously ranked as the no. 1 fastest-growing company, Forbes reports.

However, the sudden influx in mortgage applications caused the company to become too overwhelmed. 

The company started in 2006, and witnessed their 3-year growth rate skyrocket to 1,811%.

“Too much growth – too much money – coming at us too fast is not a blessing. In fact, it’s a curse,” said Aaron Brown, co-founder with his partner Jeff Reeves of Box Home Loans.

He explained, “Market conditions allowed us to grow really fast. But we’re a company that thrives on providing a tremendous customer experience as much as a mortgage.”

To cope with the influx, Brown said they discovered the power of investing in technology and web analytics to see where the company is receiving business. 

“If we need more business, we price ourselves aggressively and we show our rates on the tables we display on Zillow, and the business comes flooding,” Brown said.

He added, “But if we have too much inflow, we price less aggressively and we don’t display the rates on the tables to slow the influx back down.”

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