A close call for mortgage servicers and the importance of growing your realtor network
This past Friday, our friends in D.C. added a late fix to the Senate tax reform bill to help avoid some hefty tax hikes for mortgage servicers. The original tax reform bill called for mortgage servicers to pay taxes upfront on projected income they would have received over the life of a mortgage… yikes! That could have been a MAJOR shakeup for our entire industry. Larger correspondent lenders would have had to adjust their margins and pricing to account for the larger tax payments, which would have created some collateral damage for the smaller lenders who depend on selling their loans in the secondary market. Seeing how the new tax reform bill is sure to bring some big changes to our industry with the new mortgage-interest deduction rules… the amendment was a big win for the industry.
How focused are you on building your realtor network? We all know that refi’s are drying up… there is an article posted about it daily… that’s why it’s more important than ever to align yourself with a lender that helps you market to not only borrowers, but realtors. Our innovative marketing team is helping our broker partners grow their relator network through our Broker 2 Broker Connect program. It’s a free service that gives you direct access to our marketing team! They’ll work with you to develop personalized marketing material and create unique campaigns designed to grow your network of real estate brokers in your area! Let me know if you have any questions and I’d be happy to discuss the program in more detail!