16 Jun A New Way to Reach Out
The switch to a purchase market is hitting everyone hard. Lenders are seeing their volume decrease and their cost to originate increase because it’s more costly to originate a purchase loan vs. a refi, of course.
But lenders aren’t alone. Technology vendors are feeling the pinch, as well. Many technology vendors switched to a pay-per-transaction model over the past few years. What does that mean? With fewer loans/transactions, vendors are seeing their revenue decrease. As if that isn’t bad enough, many of these technology vendors are the sole source of compliance for their customers and are forced to continually update their products to keep up with all the new rules and regulations. How can they afford to continually reinvest in their offering when their revenue is falling?
In order for lenders and vendors to be successful they need more prospects. In a research report called: “The Hidden Gems: The Ultimate Strategy To Finding Prospects” by Jill Konrath, she points out that this is no easy task. She says:
Check out http://www.progressinlending.com/TME414/TME414BusinessStrategies.pdf for the full article!