Executive VP talks about his outlook for the new year and how mortgage pros can set themselves apart
Rocket Pro TPO is planning and preparing for a record 2021. With a vaccine on the way and historically low rates likely to continue, many experts are predicting the entire mortgage industry will continue enjoying massive volume in the year to come. Rocket Pro TPO executive vice president Austin Niemiec (pictured) is looking forward to brokers remaining a strong segment of the market, and continuing to assist purchase and refinance clients at exceptionally high levels.
In 2021, the lender is focused on injecting positivity into the industry. This year, while brokers enjoyed record numbers, they did so against a backdrop of a pandemic and economic challenges. Now, Rocket Pro TPO expects its work, and the work of the entire broker community, to be instrumental in the nation’s wider economic recovery. Niemiec told MPA why he thinks mortgage professionals will succeed again in 2021 and how Rocket is bringing positivity back.
“2020 was a year of challenges, not only for the industry, but across the country. There’s still uncertainty and there will be through much of 2021, but brokers can play an important role in injecting positivity into the lives of millions of homeowners,” Niemiec said. “With rates where they are right now, we, as mortgage pros, can help families refinance to save hundreds of dollars per month or tap into the equity of their house. This type of relief is incredibly important to many Americans right now.”
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Aside from helping homeowners achieve financial freedom through a refinance, purchase is also going to be a focal point in the new year. To make sure brokers are as effective as possible, they need to understand how there are shifting expectations of what home is. Consumers across America are staying in more and more due to the virus. Many of us now work at home, kids go to school there and we are all adapting to a changing reality. Niemiec believes now, more than ever, people understand the true value of home – which means the industry must adapt to match the needs of those seeking loans.
“As mortgage pros, we have the awesome responsibility of helping families purchase their first home, upgrade to a larger place or remodel their current space. All three of these things have become even more meaningful to Americans over the last year. Home has never been more important,” he said. “Our jobs are crucial right now, whether helping folks go from being a renter to an owner, purchase a house with a bigger yard or create a home office. We, as loan officers, are at the center of making these things happen. It’s amazing, and the opportunity to continue to do it at a record pace in 2021 will be there.”
The Rocket Pro TPO team is gearing up to further the momentum LOs are entering the new year with by offering advanced tech resources and a wide array of products brokers can leverage. While Niemiec expects strong numbers across the board, he says the most successful mortgage professionals will be those who are built to scale. His team is working to facilitate that, focusing on solutions to streamline the backend of the mortgage process to allow LOs to spend less time on each loan.
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“If I were a broker, I would make sure that my systems – from technology, to marketing, to the way my team operates on a daily basis – are built to scale,” Niemiec said. “Over December, January and February, I would look at my entire process and say, ‘What could be automated? What partnerships can I create to drive more business? What technology can I use to take some of our workload off the human beings on my team, so they can go out and do what LOs do best – assist clients, communicate and build relationships?’ That is going to allow us all to thrive in the year to come.”
This advice is coming from experience. Rocket Pro TPO, too, is built to scale. While much of the industry has struggled with slow turnarounds for loan closings, Niemiec explained that by centralizing their processing capacity, his team was able to scale up in the face of higher demand and, in doing so, have kept their turn times well below average for the vast majority of clients.
Rocket Pro TPO is ready to support its broker partners as LOs achieve success and positivity in 2021. If brokers can scale their business, support their clients and keep their turn times stable next year, the world is their oyster.
