This is how to coach originators in a volatile market
Today’s HousingWire Daily interview features a crossover episode from HousingWire’s Housing News podcast. In this episode, HW Media Founder and CEO Clayton Collins interviews Gino Fronti and Don Goettling, who are both area managers at Finance of America Mortgage, on originators and how to be an origination leader in 2021.
During the episode, the founders of DG Media and the Don & Gino show, discuss how to best coach originators in today’s market, as well as some of the best advice they’ve been given on how to help home shoppers.
Here is a small preview of the interview, which has been lightly edited for length and clarity:
Clayton Collins: As we look forward and we see where institutional money managers are putting money, and we try to anticipate what’s going to happen in the rate market, how do you coach your teams on working through a volatile or long-term rising rate environment?
Gino Fronti: I think back to maybe like eight or nine years ago, when I heard from Jeremy Forcier, and he said, “if they like it, lock it.” It’s that simple. I mean, I know it doesn’t seem like it’s that simple, but if it helps the borrower achieve the goals that they’re trying to achieve, then it really isn’t all that critical, whether it’s three and a quarter, or three and a half. I’ve had maybe 10 mortgages on my homes before in the last 15-20 years. And while you’re hypersensitive to rates at the moment of time when you’re purchasing a mortgage, after that, it’s just a payment. So, it doesn’t matter. The thing is, does it help them achieve their goals? If they’re buying a home, and they purchase today, good news; if it goes down, you can refinance. If you wait, and it goes up, there’s nothing you can do as homeownership just became more expensive for you. So, take action today is the advice that we’re telling people that are in the market to purchase. They shouldn’t wait because it could get very expensive.
HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.