Mortgage Operation Financial Statements: The Roadmap to Profitability
Posted To: The Garrett Watts Report
It is important to have a map or GPS when taking a trip. Without guidance, the journey may take much longer and travel costs could unexpectedly grow. This concept applies to mortgage bankers as well. Managers need a plan to navigate the market's landscape, without one costs can unexpectedly rise and profitability can suffer. We recently launched a new product for our customers. It is called Management Advisory Program, or MAP as we refer to it. The program is intended to increase mortgage ops revenues, control costs and better manage risk. A key component of the program is a monthly comparison of a company’s financial results and key metrics with the financial results and metrics of other participants in the program. Most of the participants originate under $100M per month and produce...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.