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Maintaining that “intentional” method in thoughts has been a key focus for Mike Rankin (pictured prime), president of Clearpath Mortgage Options, in navigating a turbulent 2024 market that’s nonetheless presenting loads of alternative.
On the refinance aspect, with mortgage servicers intently surveying the market to snap up potential new enterprise, staying alert to current clients’ wants is at the moment a prime precedence for mortgage officers. “We wish no consumer left behind,” Rankin defined to Mortgage Skilled America.
“We wish to see that 57% Barry Habib talked about returning to us. We don’t need shoppers refinancing with anyone else – and so we’re calling each previous consumer, letting them know, ‘Hey, refis are coming. Alternative goes to come back to refinance and we’re going to be those that can assist you with that. I need you to know that we’re monitoring charges for you, and we’re going to succeed in out when it’s time.’”
What are prospects for America’s mortgage refinance market?
Falling mortgage charges in latest weeks have supplied a glimmer of hope {that a} market upswing is across the nook – however fourth-quarter development remains to be more likely to be pushed by refinances, Rankin emphasised. “Anybody not prepared goes to overlook out,” he stated.
Persevering with to eke out enterprise, even in a refinance market that’s much less profitable than the acquisition aspect, needs to be prime of thoughts for mortgage officers all through the rest of the 12 months, based on Rankin.
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