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Evolving to the Marketing Concept
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Will you survive the post-refinance market?
Whether your title is broker, banker, consultant, officer, specialist, or chief-cook-and-bottle washer, if you’re a mortgage originator your primary job function is likely sales. This might not seem like a problem when you’re viewing the market from inside a refinance balloon that provides unlimited demand for your products. It’s especially not likely to be a problem if you’re one of those rare and gifted folks who can sell ice cubes to igloo dwellers. However, as those who’ve survived the end of a few refinance markets might know, many familiar signs and faces will vanish in the wake of the refinance bust.
Mortgage companies that want to survive the post-refinance market will need to quickly transition from a sales perspective to the strategic marketing concept; in other words, they need to become Mortgage Origination Marketers.
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