Mortgage applications are at a 4 year low. According to the Mortgage Bankers Association (MBA), applications dropped 7.1% the week ending October 12. For anyone in the mortgage industry that’s a very big “all hands on deck” call. With rates consistently rising over the last 13 months, competition for consumers’ business is only getting stronger.
These are the market conditions that sink leaky ships and force little guys to fight it out for the scraps. It’s no wonder with the mass of mergers, acquisitions, and lenders going out of business that its those who’ve stuck to the old ways that aren’t doing so well. It’s not just the little guys suffering, though. Even behemoths like Wells Fargo are announcing drastic layoffs to try and stay afloat in the current market.
Look, there are too many mouths to feed and not as much money around to do it. That means in order to compete it is essential to have as much control as possible. By control I mean the ability to help consumers in a timely fashion, get rate quotes, guarantee timelines, anything and everything that helps limit those little factors that might send a potential client away.
Canopy Mortgage has the tools to give you control. Stop wasting time endlessly giving quotes, day after day. Let your clients check quotes themselves—whenever they want. They can even lock rates at the touch of a button. Do you need to send out disclosures? How about re-send disclosures? Yeah, you can do that with 1 impossible to mess up click.
Everything in the system is designed to save you and your clients time, offering everybody better control. Get things processed like the big-time automation guys—every single time. I’m talking consistent closing times and everything that goes between. Can you imagine closing 128 loans in one month? Because one of our loan officers did that. Do you think that would be possible without control?
You and your clients will be able to see the loan status at any time. You’ll have control over your own pricing and margins. Finally, you’ll always have control. Now that’s power.
In a tough market it’s the ones in control who stay alive.
Come find out more about how Canopy Mortgage can help you succeed when everyone else is failing at babysitting their pipeline.