Newsletter: Predicting Volume, NY MBA, Summer Tunes, PROGRESS in Lending, LO Virtual Event, Customer Giveaway

Predicting Volume Based on Pre-Quals  🏡

An interesting topic of conversation that we’ve been having with our clients is their ability (or inability) to forecast purchase volume based on their pre-qualification activity. We find that most lenders attempt to forecast purchase volume based on the number of credit reports they run over a certain period. This, of course, ends up being a poor indicator, as obviously not every credit report results in a pre-qualified borrower. In fact, most lenders don’t even have a mechanism to measure the number of active pre-qualified prospects they have out looking for homes.

While most mortgage executives could quickly tell you how many applications or closings they have year-to-date down to the individual loan officer, they couldn’t say how many pre-qualified borrowers they have out on the street. And while they could tell you what a loan officer’s “application to close” pull-thru rate is, they couldn’t tell you what a loan officer’s “pre-qual to-application” conversion rate is.

Newsletter: Housing Inventory, Pets, Elon Musk, Wicked, Great River MBA

Housing Inventory & Prices  🏡

According to HousingWire and Realtor.com, more than two-thirds of ...

LenderLogix Named 2022 HousingWire TECH100 Mortgage Honoree

We are proud and excited to announce that LenderLogix has been named a 2022 HousingWire TECH100...

Newsletter: Revenge of the Nerds, Pre-Approvals, Loganberry

Revenge of the Nerds 🤓

A handful of mortgage companies went public in 2021, including:· Rocket...

Newsletter: Closed Loan Economics, Mariah Carey, Better Mortgage

Lending Insight from our CEO 💡 

One of the most eye-opening concepts you can learn as a mortgage...

LenderLogix Fee Chaser Now Partnered with CardConnect

Simplifying the way mortgage lenders accept and manage credit cards payments

LenderLogix has...

5 Reasons Selling Your Home Without a Realtor is a Terrible Idea

Given my background as a career mortgage banker, I often find myself in conversations with people...

Conforming Loan Limits Increasing for 2021 📈

Loan Limit Increases

For the fifth year in a row the Federal Housing Finance Agency announced an...

The Year of the Mortgage Lender IPO 💰

Starting with Rocket Mortgage's highly publicized public offering in August and United Wholesale...

5 New QuickQual Updates You Might Have Missed 💡

Recently we updated QuickQual with one of the most requested features that our customers have asked...