According to the Mortgage Bankers Association’s forecast from this past August, there will be $2.3 trillion in business in the mortgage market in 2022. It’s remarkable when you think about what that big number really represents. That’s a historically high number of real people who realized the dream of homeownership.
However, there is another reality associated with this number that is impacting the companies who are making homeownership dreams happen. The 2022 forecast is down $2 trillion from last year, and we read about it daily. This kind of business downturn hurts, and we all feel it.
The increasing interest rates and industry-wide layoffs are a part of our reality right now, but it has always been clear to me that in times like these, we have our greatest opportunity to grow. I’ve weathered the cycles of the mortgage industry with most of the top lenders in the nation for the past three decades. As experienced mortgage professionals, we know we’ll eventually turn a corner, but until the markets shift, there are things we can do to position our teams for success regardless of the market.
A key to the stabilization of productivity for lenders right now sits with focusing on the development of experienced loan officers to next-level performance. I hear it from the top mortgage CEOs in the country, and I see it every day with the loan officers they entrust to XINNIX and that we are privileged to support. At XINNIX, we are seeing firsthand that mortgage professionals can still succeed right now. Surprisingly the loan officers attending XINNIX Performance Programs aren’t just surviving but thriving and moving the needle of their business. I say surprisingly because I expected the performance numbers to dip. Let me explain. We measure the performance improvement of every student in every program as we are obsessed with providing predictable outcomes. Each market is different, so I watch closely to see if the market conditions will hurt the predictability of success. With the market constricting, I expected our students’ performance improvements to be impacted slightly. However, it has not…the results are still staggering.
Don’t Wait to Succeed
Here are some examples of the results that seasoned loan officers going through the EDGE™ Program right now are experiencing. Year-to-date, EDGE students, have increased their referral sources by 107.68%. They have increased their referral source meetings by 286.12% and saw their applications increase by 53.6%. That’s in 2022, in the midst of all the challenges our industry is facing. They are still seeing massive, paradigm-shifting results.
You’re probably asking the obvious question—how? How are some mortgage professionals seeing numbers like this while others are struggling to stay in the industry at all? I am going to tell you a secret: this is always the case, no matter what shape the market is in. Those who are willing to do what is necessary to succeed are going to succeed.
At XINNIX, we have spent over 20 years proving this is true. And if you’re an experienced loan officer, you know it as well. The same strategies, sales tactics, and principles that work in the sunshine still work in the storm. You can still reach top producer status right now. You just need the right mindset, motivation, and support to get there.
Don’t Go It Alone
To be clear, I am certainly not downplaying the difficulties we are all facing. Days like these require tenacity and endurance. There’s no doubt about it. At XINNIX, we believe we were made for times like this—and we believe you were too. XINNIX has weathered the many ups and downs of the industry, from the 2008 housing market crash to the incredible boom of the last few years. Through it all, we’ve seen mortgage professionals change their businesses and lives when they invest in their success and find the right partner.
No matter a loan officer’s experience level, everyone needs help to reach the next level. That’s why coaching and accountability matter so much. At XINNIX, that’s where our experience comes in. Our students, even the most seasoned and successful loan officers, still have somebody in their corner to encourage them onward and keep them on track. Top producers don’t just happen. They develop over time and know to surround themselves with the right people who will energize them to elevate their business.
This is especially true in a challenging market. Times like these can feel isolating, like you are alone in the middle of a storm, fighting for survival. Don’t fight alone. Find people who will fight beside you. Together, we can not only make it through these difficult days, but we can reach new levels of success.
At XINNIX, we have been serving professionals like yourself in every market—and we’ve seen them succeed. Don’t get nervous when the waters get rough. We believe you have what it takes to reach your goals—and we’re here to help. Find out what levels you can achieve when we work together.