“If you’re an MLO in 2025 and you’re not brand new, it means you survived 2023 and 2024,” Coby said. And that resilience, he believes, is a strong predictor of future success. The industry has seen a dramatic contraction, with fewer loan officers remaining in the field. Those who made it through the last two years have already demonstrated the grit and adaptability needed to navigate this high-rate, low-inventory environment.

Coby is optimistic: “Are you having the best time of your life? Probably not. But do I think things are going to get better? Yes.”

One of the biggest hurdles remains the “married to your mortgage” phenomenon — homeowners locked into ultra-low rates from the pandemic era, hesitant to move. But Coby advises loan officers to shift the conversation:

“Ask your clients, ‘What have you poured into a landlord’s pocket in the last two years? How much more will you pay for the same home if you wait?’ It’s about presenting the logical, long-term benefits of homeownership.”

Another challenge? Affordability. Wages haven’t kept pace with rising home prices, and potential tariffs could further increase construction costs. Coby emphasizes that education is key: “Loan officers need to engage and educate buyers, especially younger ones, to help them navigate these barriers.”

LaDonna Lockard echoed this sentiment, emphasizing that homeownership should be a long-term goal rather than a perfectly timed investment. “There’s never a perfect time to buy a home,” she said. “If you wait for the ‘perfect’ rate or the ‘perfect’ market, you might never take that first step. The most important thing is getting in and building equity over time.”

Fintech advancements are revolutionizing lending, but Coby stresses that technology should be seen as a tool, not a crutch. AI-powered CRMs, automated document readers, and machine-learning underwriting models are already enhancing efficiency. But at the core of success remains the personal relationship.

“These tools give you time — the most valuable asset you have. Use that time to deepen relationships with your clients and referral partners. Your ability to guide them through uncertainty is what will make you indispensable.”

LaDonna reinforced this, pointing out that technology should enhance, not replace, human connection. “AI can’t replace the trust and confidence a borrower has in their loan officer,” she said. “It’s a tool to free up time so LOs can focus on what truly matters: relationships and education.”

Coby’s top piece of advice? “Have a plan, but be willing to adapt. Reevaluate what’s working and what’s not at least once a month.”

His second tip: Find a mentor or accountability partner. “The more you speak about what you’re doing and get outside perspectives, the stronger your strategy will be.”

LaDonna added that accountability can come in many forms. “I have an accountability partner in another industry, and we check in weekly. It’s not about coaching each other, but about making sure we’re pushing ourselves to improve. That kind of external perspective is invaluable.”

Beyond mortgage banking, Coby is also a volunteer firefighter, and he sees direct parallels between firefighting and leadership. “In both roles, your team’s success depends on your commitment to preparation and training. Whether in a burning building or leading a mortgage team, your knowledge and readiness can make all the difference.”

For those who have made it through the past two years, Coby’s message is clear: “Hang in there. You’ve come this far. Keep adapting, keep learning, and keep pushing forward. There’s a lot of light at the end of the tunnel.”

LaDonna summed it up simply: “You can’t control the market, but you can control your own actions. Stay focused, keep learning, and don’t sit on the sidelines waiting for perfect conditions.”

The mortgage industry remains one of the most dynamic and essential sectors of the economy, despite the challenges it faces. While interest rates, affordability, and regulatory uncertainties continue to shape the landscape, loan officers who remain proactive, educate their clients, and embrace smart technology will be best positioned for success.

Building relationships — not just with clients, but with referral partners, industry mentors, and even younger professionals entering the field — will define the loan officers who not only survive but thrive. The future of mortgage lending is evolving, and those who stay informed and adaptable will lead the way forward.

Listen to Take It To The Max! with LaDonna Lockard, exclusively for National Mortgage Professional. Listen to the full episode below for even more of Coby's insight.