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Mortgage down market – what are the positives?

Cassidy spoke to MPA through the annual FUSE conference staged in Las Vegas by the Association of Independent Mortgage Experts (AIME). The gathering took place Oct. 4-7.

It’s not brokers who’re leaving amid difficult times

Cassidy pointed to a positive aspect inherent to the present challenges of the housing market – what with inflation, higher rates of interest, soaring property values and low housing inventory. Despite such challenges, she said the exodus won’t be amongst independent brokers but loan originators on the retail side of the business.

“Brokers aren’t leaving the channel,” she said. “Brokers who take this job seriously that tap into the resources we provide at a spot like AIME to assist them aren’t those leaving the channel. It’s retail originators which have higher costs and have so many overlays and rules – they’re those which might be leaving. So after they leave, here come the brokers taking an ever greater market share and ensuring we’ve got a much bigger slice of the pie in the long run.”

Helping military veterans is a meaningful a part of the job

Indeed despite the current challenges, there are gratifying points of the job –  equivalent to helping military veterans achieve the dream of homeownership. “I’m an enormous advocate for VA,” she said, referring to the US Department of Veterans Affairs. “In the state of Florida, I’m working closely with AIME and with my team captain to actually push for veterans which might be 100% exempt from their property taxes in the intervening time they go under contract for his or her house.”

Cassidy referred to an initiative by AIME that involves so-called “state captains.” Advocacy state captains are volunteers who’re lively of their local people and are a driving force for state-level legislative efforts. Community state captains, for his or her part, are volunteers who’re lively of their local people and are a driving force for amplifying AIME’s initiatives on social media. AIME recruits two members from each state to concentrate on local issues for which AIME might provide input in the best way of advocacy.

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