Why it matters:

• “If lenders can’t meet the actual needs of the borrowers their business referral partners bring them in 2023, they won’t grow. They may not even survive,” Camerieri said in his recent National Mortgage Professional article.
• Finding new ways to serve borrowers will be essential in bolstering loan volume and might include product lines lenders may have ignored in the past, he noted.
• Camerieri recommends adding Home Equity Lines of Credit (HELOC), home improvement loans, reverse mortgage loans and other products that might meet borrowers’ current needs.

For additional details, check out the article here: 5 Loan Products that Will Make You Thrive in 2023.

Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com.