Ed­i­tor’s Desk

National Mortgage News - - Contents - Send your com­ments, ques­tions and story ideas to Ed­i­tor in Chief Austin Kil­gore: austin.kil­gore@source­me­dia.com

In­de­pen­dent mort­gage bankers posted a net pro­duc­tion loss of $118 per loan dur­ing 1Q18, the sec­ond time in four years that orig­i­nat­ing mort­gages was a los­ing ven­ture.

While that fig­ure is based on the Mort­gage Bankers As­so­ci­a­tion’s quar­terly per­for­mance re­port of non­banks, the chal­lenges be­hind it are felt through­out the in­dus­try.

Ane­mic loan vol­ume has evis­cer­ated the economies of scale that lenders rely on to keep costs in check. So even as pro­duc­tion rev­enue is in­creas­ing, the per-loan cost to orig­i­nate a mort­gage was the high­est it’s been in 10 years.

Thin­ning profit mar­gins have many lenders giv­ing the whole­sale chan­nel a closer look. And the in­flux of new whole­salers and bro­kers is mak­ing the chan­nel more com­pet­i­tive, as mort­gage pro­fes­sion­als seek to lower costs and bet­ter man­age op­er­a­tions.

This month’s cover story ex­plores United Whole­sale Mort­gage and its CEO, Mat Ish­bia. The Troy, Mich., lender was a main­stay in the whole­sale chan­nel through­out the mort­gage cri­sis and re­mains stead­fast in its ef­forts to work with bro­kers. Ish­bia and UWM have be­come the poster child for a group of whole­salers that seek to gain a com­pet­i­tive edge by po­si­tion­ing them­selves as bro­kers’ al­lies in un­prece­dented ways. Now, as the chan­nel gets more com­pet­i­tive, UWM’s model is be­ing tested by a host of new chal­lenges and op­por­tu­ni­ties.

Shift­ing gears, we’re just two months away from the 2018 Dig­i­tal Mort­gage Con­fer­ence. The tech­nol­ogy trans­for­ma­tion that’s sweep­ing the in­dus­try con­tin­ues to rapidly bring new in­no­va­tions to the mar­ket. And the pre­miere event ex­clu­sively ded­i­cated to these de­vel­op­ments is no dif­fer­ent!

This year’s edi­tion of our ground­break­ing Dig­i­tal Mort­gage Con­fer­ence will be big­ger than ever and in­clude a num­ber of ex­cit­ing new fea­tures. First off, we’re mov­ing the fes­tiv­i­ties to the Cos­mopoli­tan Las Ve­gas and the agenda has been ex­panded to two full days of con­tent.

As al­ways, the main at­trac­tion will be demon­stra­tions of the lat­est dig­i­tal mort­gage ad­vances. And with three tracks of ses­sions, there will be no short­age of op­por­tu­ni­ties to learn and en­gage with your peers, no mat­ter where you are in your dig­i­tal jour­ney.

At­ten­dees will also have the op­por­tu­nity to par­tic­i­pate in our new En­gage Roundta­bles, a se­ries of small break­out ses­sions that ex­plore how dig­i­tal mort­gage tech­nolo­gies are help­ing tackle unique in­dus­try chal­lenges.

Lastly, we’ll cap things off with an ex­clu­sive af­ter party to toast the end of a suc­cess­ful event. For more de­tails about the con­fer­ence, visit: na­tional­mort­ga­ge­news.com/ confe rence/ dig­i­tal­mort­gage-2018

We hope you see you there!

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