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Who’s Winning in Today’s Market?
Oct 19, 2018
What is the biggest fear to agitate the mortgage industry? According to a new survey by Genworth Mortgage Insurance, it is the prospect of rising interest rates

With interest rates up, mortgage professionals will begin to shift their focus to purchase loans, cash out refinances, and deciding whether to be a Mortgage Broker or Mortgage Banker. Finding the right fit is having a major impact on 2018.
Mortgage Brokers, TPO (Third Party Originators), and Wholesale Lenders are making a comeback! Correspondent Lenders have dominated the mortgage industry for years and while it looked like the Mortgage Broker was doomed, more lending power and the return of non-QM loans are causing many to question which the right choice is.
Today’s borrowers want options, and one thing everyone does agree on is that more volume equals better business. Successful marketing is key to finding and retaining top performers. Successful marketing strategies used by mortgage professionals in today’s uncertain mortgage market include the following:
►Correspondent and Wholesale Lenders both fund more loans by networking and referral-based business. Marketing dollars are spent generating leads that can be referred out to these networks. In return, these networks will refer more business back to you. With less long-term losses (like early payoffs) and more competition upfront, referrals build credibility and customer loyalty.
►In contrast, Mortgage Brokers see more business by direct marketing. With laser precision, a TPO only targets borrowers that meet the guidelines of lenders they use, have higher close ratios and a faster ROI. Less upfront competition creates a better overall customer experience. Better customer service, satisfaction, and retention keep EPOs to a minimum.
In recent years, many Mortgage Brokers changed to Correspondent Lenders, but as the market shifts back to purchase and cash-out refinances, the question remains. To be a Broker or a Banker? That is the question!
TagQuest customer spotlight
Each month, we like to talk with our clients and find out how their campaigns are going. Here’s what we heard from one of our mortgage professionals, Donnie B., a Mortgage Broker in Kentucky, and the results of his marketing campaign:
Marketing campaign: Direct mail
Quantity: 6,000 mail pieces
Loan type: VA streamlines
Response rate: 0.86 percent (Personal best … the highest VA refi response in 2018!)
Response: 52 phone calls
Highlights of campaign that worked well …
“Our volume last year increased 18 percent from the previous year.”
Highlights of growth that could appeal to other Loan Officers or offices …
“We were able to increase our staff from the direct mail marketing by 50 percent due to the success of the direct mail campaign at its peak.”

TagQuest Inc. is a full-service marketing firm specializing in marketing for the mortgage industry. For more information, call (888) 717-8980 or visit

This article originally appeared in the September 2018 print edition of National Mortgage Professional Magazine.

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