In today’s higher interest rate, lower volume, purchase loan environment, success for lenders often hinges on having “feet on the street,” meaning community-based branch locations with local loan officers familiar with the market and realtors. This is driving an industry trend of more lenders looking to establish localized branch networks to seize specific market opportunities.
Rather than investing in costly corporate-controlled branches, lenders are favoring a more entrepreneurial approach to the branch network model, recruiting experienced loan officers already operating within their target markets and entering into contractual agreements with them to operate a branch location under the lender’s brand.
Read more at: Progress in Lending Association
January 1, 2024