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Mortgage Broker News | 18 May 2011, 10:20 AM Agree 0
Buck up, brokers. By one industry veteran’s calculations, the channel has actually gained – not lost – key market share in the difficult years following the subprime collapse.
  • AlwaysintheGame | 19 May 2011, 03:14 AM Agree 0
    it would be interesting to compare the 25 % and 275 in terms of actual number of deals. That way it would be more effective. 25% of what number and is that a greater number than 27% of y?
    As an agent in the industry it will be interesting to see how that numbers grows and we try to hit the 40 % mark.
  • Wane Davis | 19 May 2011, 04:13 AM Agree 0
    The perspective shouldn't be a quick year over year comparing 2010 to 2011...take a look at the trend over the last 6 years...and the trend in growth of brokers/agents vs. lender mobile mortgage reps...then do the math...sub-prime or no sub-prime...the industry once was closing in on 40% and it isn't getting closer anymore...
  • Elfie Hayes | 20 May 2011, 06:56 AM Agree 0
    Thank you for the article Vernon. I do like to look on the bright side of things where-ever possible!
    What I have been doing in my own mortgage practice is looking at how my office is doing. I joined MI in November of 2007, brought on 2 full time licensed agents and today May 2011, I have 7 people on my team and my volumes doubled during this recession. I like knowing that our industry is not losing market share, but the only thing that matters to me in the end is what is my team is doing. You can have a solid footing as an industry and still individuals fail to produce. Through hard work and relationship building we have replaced the Sub-Prime business with more A deals from repeat and referral business, but we've also aligned ourselves with Lenders both institutional and Private so we can do all the Sub-Prime business that the Big 5 can't seem to pull together. Experienced Brokers can keep gaining market share even when the industry is not doing the same. Once again thank you for your article, it gave me a boost after reading that Brokers were falling behind!
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