Carefully consider your
endgame before making a move
from broker to banker
ortgage brokers always
have had the option to transition their business to mortgage
banking, but today, more brokers are making the transition than
ever before. There are a number of reasons why so many brokers
are making the jump, from increased regulations to the potential
for increased revenue. Sometimes, seeing the money that can be
made from service-release premiums (SRPs) alone can be enough
to lure brokers to banking.
Brokers should know, however, that transitioning into the banking
world can be difficult without planning appropriately or putting
the right pieces in place. In the world of banking operations, there
are no knee-jerk reactions when problems arise, because hasty
reactions simply will burn more time and money, and adversely
affect the entire operation.
