The easy choices have already been made: the low performers left about 16 months ago, the travel budgets have been slashed, and struggling branches have been sold to competitors or unceremoniously closed.
For the mortgage industry, more often it’s about making the very hard choices these days – exiting a channel, deciding which star performer to let go, etc. After all, the average retail lender lost nearly $2,000 per loan in the first quarter, and I expect losses to be similar in Q2 and elevated in Q3.
One consequence of mortgage lenders – and LOs, for that matter – being on details ⇒
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