Newsletter: House Money, Mortgage School, Free Swag

🏠 Giving Away the House

When I was a Loan Officer, I used to ask for pricing concessions a lot. The company was making so much money so no big deal, right? 

Here's the average lender profit-per-loan (after all production expenses including commissions, operations, staff, etc.) for the last several years per MBA.

- Patrick O'Brien, CEO at LenderLogix

👀 ICYMI

We launched a Brand Ambassador program! I mean who doesn't love $250 worth of free swag?! Reach out to your favorite LenderLogix employee or fill out this form, complete a few easy tasks and you're in! 

📝 Continued Education

Congratulations to Olga from our team for completing the Mortgage Bankers Association School of Mortgage Banking II (SOMBII) earlier this month! 

In SOMB II, Olga learned how to analyze managing profitability and risk in mortgage banking with an emphasis on effective organization and management of the production, servicing, and secondary marketing departments for the purpose of controlling risks and maximizing bottom-line profits. 

Completing this required many hours of hard work and studying but it was all worth it. Great job, Olga! 

👏 Proud Partners

This month, we're proud to highlight Premium Mortgage Corporation's experience choosing to replace their Point-of-Sale (POS) with our POS solution, LiteSpeed. As one of the top Independent Mortgage Banks in New York State, this was not a decision to be taken lightly. Our team worked hand-in-hand with Premium Mortgage's team through implementation and full-scale successful adoption. 

"LiteSpeed gives our borrowers a powerful, yet simplified digital entry point into our mortgage application process, which helps us differentiate ourselves in the current market and deliver a superior experience at a fraction of the cost," said Dave Gates, Chief Operating Officer at Premium Mortgage. Check out the release here!

💻 Learning Center Updates 

We recently updated our Learning Center to include a new section for our POS, LiteSpeed! Borrowers and lenders usually have a pretty easy time learning how to use LiteSpeed, but the Learning Center is a great resource to find some help with some of the more advanced features of the product. If you have any questions or suggestions on how to improve LiteSpeed, our amazing Customer Success team is always here to help!

📌 From The Team's Bookmarks

Some links shared around the office this month: 

- Economists: Home prices will drop slightly in 2023 before rebounding into a more normal pace

- 2023 LenderLogix Invitational Pickleball Tournament Highlight Reel 🏓 

- FIFA Women's World Cup Schedule

- Last week FHFA wrapped up Velocity TechSprint

🤔 A Hypothetical Scenario... 

We've been debating this in the office for the past week and now we want to hear from you. Help us settle the current office debate. 

You're in an arena with 50 hawks, 10 crocodiles, 3 grizzly bears, 15 wolves, 1 hunter, 7 cape buffalo, 10,000 rats, 5 gorillas, and 4 lions. You must pick two to defend you while the rest are coming to kill you. What do you pick and why? 

Reply or email marketing@lenderlogix.com with your answers! Our team will review and the top two answers (with good reasoning for your choice) will be featured in next month's newsletter and win a $50 Amazon gift card! 

Quote of the Month:

"The best way to predict the future is to create it." - Peter Drucker 

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