If you’re wondering why your President’s Club trip was moved from Costa Rica to Costa, New Jersey this year here’s why…
Balling on a Budget 🌴
Let’s take a look at the pre-tax production income on a per-loan basis since 2015 (as averaged by MBA):
Ouch... For every loan written in Q3, the average lender lost 20 BPS.
For some more uplifting news, check out our musical announcement of the 2023 increased conforming loan limits.
- Patrick O'Brien, CEO at LenderLogix
From The Team's Bookmarks 📌
Here are a few resources our team put together that we found interesting or helpful over the last month. And, of course, we included some random links we thought you might enjoy.
- Will we see you in Vegas for ICE Experience 2023?
- Mortgage Demand Picks Up as Seller Concessions Rise
- Applications Post Nearly 30% Gain
- Housing Starts Fall for 4th Straight Month
- Mortgage Credit Availability Decreased in December
- This week's Housing Market Tracker by Logan Mohtashami
- Everything Lisa Marie Presley said about overcoming difficult times
- Did you know about National Quitters Day? We didn't
- For readers with young kids: thank us later
Microsoft & AI 🤝
We mentioned ChatGPT and the power of Artificial Intelligence in our last newsletter. Since then, we’ve learned even more about Microsoft and its involvement with OpenAI, the company that created ChatGPT.
Way back when, in 2019, Microsoft announced a $1 billion bet on OpenAI that would bring exclusive access to the artificial intelligence technology to the Microsoft Azure cloud computing platform.
Now, as some of the promises of AI are being realized, Microsoft is reportedly working on an additional financing deal of $10 billion that will value OpenAI at $29 billion and further strengthen the tech giant's influence on the technology and entrench it in their Azure cloud stack.
The future is here, and hopefully Microsoft will incorporate OpenAI into its full suite of products, and we can finally figure out how to make pivot tables!
- Scott Falbo, CTO at LenderLogix
Keeping Borrowers Sticky 🏡
How can you help your referral partners with borrower stickiness? By providing them with hyper-specific content they can share with clients. The more customized a homebuyer’s journey feels the better chance you both have at converting them to an application and, ultimately, a secured loan.
We've heard great feedback from QuickQual users about how much Real Estate agents love the tool. Many agents have even referred to it as their preferred way to create, manage and share pre-qual and pre-approval letters. One feature request we received pretty often last year was for the ability to give Realtors exclusive access to update letters. The idea behind the request was consistent - it puts the power in Realtors' hands to keep borrowers in their ecosystem. When your referral partners win, you win.
We recently announced that this new feature is live. Check out the details on our Learning Center. And, of course, if you have any questions, please let us know!
ICE Experience in Vegas 🎰
ICE Mortgage Technology™ is hosting their annual Experience conference next month from February 27th to March 1st in Vegas! As their only gold partner, we are definitely going to be there!
We'll be giving brief product demos at our booth (#113) and giving away some pretty awesome swag. Stop by to chat with our team or shoot us an email to book some time with us below!
Office Views & Bills Blues 🏈
In case you're new here, we're out of Buffalo, NY and therefore big Buffalo Bills fans. Earlier this month a local artist teamed up with a local printing company to create and display a pretty massive Damar Hamlin mural in the city. Well, it just so happened to be directly out our office windows! Pat even time-lapsed the installation team here. It's a pretty cool piece of art and has served as a great reminder of the unity that can come from tragic moments.
Buffalo's heartbreak continued a few weeks ago as our team's playoff journey was cut short by the Bengals, leaving us eager to say "this is our year" once again come preseason... We'll cut that topic here in order to maintain a safe workplace environment. Kidding, kidding.
Tell us - who are you rooting for in the final showdown? Email marketing@lenderlogix.com to let us know. We'll randomly choose one reader to win a red Solo Stove Mesa Tabletop Fire Pit. Because even when we're out, it's still Go Bills! 😜 Only newsletter subscribers can enter this giveaway and a winner has already been chosen.
Quote of the Month:
“Did we win?"
– Damar Hamlin, Buffalo Bills
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