MPATV's 'The Big Question' tackles the toughest issues
The mortgage industry has witnessed a whirlwind of challenges in recent times, from surging rates and inflation battles to technological struggles and a talent war.
Amid this turmoil, MPA TV’s ‘The Big Question’ segment brought together industry experts to dissect these challenges and explore ways to overcome them.
“The biggest market challenge is definitely supply because the market is strong if it wasn’t for the supply side,” said Juan Villegas, director of national sales at Calyx Software. “[There are] different reasons for why we are in this predicament, but I believe after the challenges we’ve had in these couple of years, I think there’s a lot of green shoots out there to look at. But the challenges are real. They affect the market, and we support our brokers as much as we can.”
Mike Pearson, SVP of business development at A&D Mortgage, highlighted the rising overall cost of mortgages. While interest rates dominate media discussions, additional factors, such as increased housing costs, higher taxes, and insurance rates, compound the issue. Pearson explained that these pressures, from all sides, create a formidable challenge for prospective buyers.
“I think the biggest issue is just the overall cost,” Pearson added. “If it was just interest rates, you could probably work around that, but you’re getting pressure from all sides. So that becomes a big challenge.”
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William Fisher, EVP of non-QM and jumbo lending at LoanStream Mortgage, laid out the efficiency and lead generation dilemma. With rates on the rise, it’s becoming tougher to secure loans. Fisher believes educating borrowers about their options is key to tackling this challenge.
“So it’s about educating the population on what they can do for their needs,” he said. “What I see as a base challenge is our brokers and lenders talking to borrowers, showing them what’s available. Once we get over that hump, I think we’re going to be just fine.”
If you want more expert perspectives like these, watch the latest “Big Question” episode for more insider scoops.
