HousingWire recently spoke with Ryan Carey, SVP of Change Wholesale, about the wholesale channel and how brokers can take advantage of the current volatile market.
HousingWire: How is the current volatile market affecting the wholesale channel?
Ryan Carey: At Change Wholesale, we welcome and embrace market fluctuations and changes. This is another opportunity to shine and showcase our diverse products and services, especially in the non-QM sector, and for our many partners to confirm that by working with us, they can provide their customers with comprehensive mortgage solutions. Can offer an exceptional range that is not available anywhere else. in the market.
HW: What can brokers do to make a profit in this market?
RC: It is no longer enough for brokers to offer a wide range of mortgage options and solutions to their clients and customers. They must master and demonstrate each product so that their customers can easily differentiate the additional level of care and quality they receive.
The best brokers – a centrist – understand the nuances and unique guidelines of each product they are offering. Brokers stand out by offering customized mortgage solutions when their competition only offers cookie-cutter solutions. This way they are able to stand out and grow their business.
HW: What kind of support do brokers need right now?
RC: They need support from their wholesale partner to a “T”, or what I like to refer to as: technology, turn time, track record and trust.
Our industry leaders are at the forefront when it comes to investing in technology. With the right commitment, support and follow-through, this technology always brings better up-time and results for the clients. Brokers looking for a competitive advantage need only look at the track records of their current partners to determine whether their level of execution and performance meets the same high standards. And, of course, when this happens, it builds trust, which is the most valuable currency in our industry.
Brokers who thrive in such a supportive environment can turn their attention to another “T”, conquering new sales “territory”.
HW: How has Change Wholesale helped brokers gain market share in a declining market?
RC: Look how diverse and disruptive the economy has become. Post-Covid, you have more people working from home, as well as more mixed work situations where income can flow in from a variety of unconventional sources. Change Wholesale has responded with a variety of innovative products that reflect this new market.
For Change Wholesale, non-traditional or underbanked borrowers who may have been excluded from agency products in the past are now the same borrowers who can help brokers grow their businesses to new heights regardless of market conditions. Can
In our opinion, the brokers who best serve this largely untapped market segment will be the ones most successful.
