John Paasonen is the co-founder and CEO of Maxwell, a digital mortgage point-of-sale platform that helps lenders gain efficiency and improve borrower experience. He has a B.A. in international business and an MBA from Duke University’s Fuqua School of Business.
It's a tough time for lenders. Origination costs are up, pricing is challenging and volumes are moderating. A recent Fannie Mae study revealed most lenders view increased competition as the biggest reason for margin compression. As the market continues to fragment, one key to margin expansion and beating the competition lies in improving the borrower journey. Here’s how you can do it.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.