“In some cases, [LOs] may lose the familiarity with the brand name that comes with some of the larger operations, ”he says. “But as our consumers become more educated and familiar and familiar in this area of home finance, I think it will be easier for the customer to work with someone who may not be known.”
Of course, it’s not just loan officers who make the switch. Hilzendeger explains how he and other executives have watched larger banks reduce their exposure to the mortgage market over the years. That’s not the trend he sees in wholesale.
“The opportunity to join an organization in Home Point’s growth mode is exciting. It’s different from what we might see in some other facets of business today, ”he says.
However, Hilzendeger does not see a complete exodus in retail. Instead, he sees the room that has been an all-rounder for years, ready to serve everyone, narrow his focus, serve a select group of customers and develop innovations based on the needs of these customers.
“I think the retail space will come out nicely,” he says. “I think they will look different. You will have a different focus and emphasis on the customer base. “