Newrez executive shares what separates the best brokers from the rest
One mortgage executive is sharing his advice with both new and veteran loan originators on what can make them stand out above the rest in a challenging market.
Tony Kottenbrock (pictured top), SVP and head of wholesale at Newrez, said the LOs who build strong books of business in wholesale tend to share a specific set of traits, starting with strong communication skills.
“They’re effective communicators with the borrower,” Kottenbrock told Mortgage Professional America. “More than anything, they don’t run and hide from a problem. They’re able to effectively communicate what it’s going to take to get that loan to the closing table. It’s a commitment to communicate on that loan throughout the process with the borrower. That’s first and foremost.”
A shift in the industry
Kottenbrock has noticed a shift at recent training events, as he has seen a lot of new faces. Many of those new faces are retail LOs moving into the wholesale space for the first time.
“It wasn’t too long ago I’m sure we all felt the same — that we were one of the youngest in the room,” he said. “And now I find myself one of the older ones. A lot of new blood coming in, and then more than anything, a lot of retail LOs moving over to the wholesale side. And I think that is what’s making the industry, from a lender perspective, even more challenging.”
