If you had to rate your confidence in the mortgage industry in 2024 on a scale of 1 to 10, what number would you choose? For HousingWire president Diego Sanchez, it’s a solid 10—and for good reason.
As someone who interacts daily with lenders, vendors, and a best-in-class reporting and editorial team, Diego has his finger firmly on the pulse of the mortgage industry. Despite high rates, low inventory, and persistent inflation, he sees a wealth of opportunities on the horizon for originators and shares his top insights on how to capitalize on them.
Don’t miss this dynamic conversation between the industry’s most decorated sales expert and the president of one of the most influential (and fastest-growing) media companies in mortgage and real estate.
Dale and Diego cover a wide range of topics, from key data trends to the impact of technology and information on modern originations, the downstream effects of the NAR settlement, and the ongoing transformation of the valuation and title insurance industries.
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In This Episode
▸ How are lenders finding success in today's market? (starts at 4 mins 15 secs)
As president of a leading industry publication—and notably, one that hosts some of the fastest-growing industry events—Diego Sanchez has his finger on the pulse of which lenders are succeeding and which are falling behind. Hear his perspective on how the best lenders are navigating today’s market: containing costs, targeting niche growth opportunities, and leveraging data more effectively.
▸ The flight to quality (starts at 10 mins 10 secs)
The post-COVID market has, perhaps more than any other, separated the best from the rest in mortgage and real estate. Diego argues that this separation has enabled growing lenders to attract and retain top talent while avoiding—or, in some cases, shedding—underperforming employees.
▸ The role of information in modern originations (starts at 14 mins 17 secs)
The mortgage industry has an information problem. Why? In part because loan officers are failing to use the information at their fingertips to help clients make informed lending decisions. But more significantly, borrowers now have more access to information than ever before—yet much of it is preventing them from making the right decisions at the right time. That’s why HousingWire is committed to breaking down silos and providing our industry—and, through it, the American homeowner—with the full picture.
▸ Consequences of the NAR Settlement (starts at 23 mins 47 secs)
Are we living in a new world following the official implementation of the NAR settlement? Diego breaks down what he sees as the most significant downstream effects of the settlement, including a reduction in buyer’s agent compensation and a subsequent downsizing of buyer’s agents nationwide.
▸ Innovation in home valuations and title insurance (starts at 31 mins 12 secs)
The post-COVID housing market stress-tested every facet of the home loan origination process, including appraisals and title insurance, both of which were shown to be ripe for innovation. Diego shares his concerns about an aging appraisal workforce, the limited applicability of AVMs, and the mounting expense of title insurance. He also discusses opportunities to streamline those costs through regulatory changes and title insurance alternatives, including attorney opinion letters.
▸ The threat of servicers to non-portfolio originators (starts at 34 mins 50 secs)
With the Fed expected to cut interest rates within weeks of this episode’s release, the industry is poised for a refinance boom. However, many lenders have begun to worry about losing business to major servicers, who have strategically built up their database marketing capabilities and in-house origination teams over the past several years to capitalize on rising consumer demand. Diego shares his thoughts on the threat servicers pose to originators and how originators can prevent churn from their books of business.
▸ Where Diego believes the industry is headed (starts at 42 mins 48 secs)
Diego believes the industry is heading into calmer waters. As inventory normalizes, home value increases plateau, the likelihood of near-term rate cuts remains high, and inflation dips below 3%, he anticipates borrower demand will recover and, with shifting demographics, begin to grow. Additionally, a small refinance boom for late-cycle borrowers is on the horizon, which should provide lenders with a modest boost to reinvest in serving the next generations of American homebuyers over the next 15 to 20 years.
About HousingWire
HousingWire's mission is to break down silos and provide industry leaders with the full picture to move markets forward. They combine original data, analytics, technology, media, and events to support informed leaders.
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About Diego Sanchez
Diego Sanchez is a digital media veteran with over a decade in executive management. He has held senior leadership roles at Travelzoo, Rodale, Adtelligent, and now serves as President of HW Media. Diego holds a Bachelor of Arts in Governmental Studies from Harvard and an MBA from Columbia Business School. Prior to entering media, Diego worked in both nonprofit and for-profit education. He lives in Brooklyn, NY, with his wife and two sons.
Connect with Diego
LinkedIn → linkedin.com/in/diegoesanchez
About Dale Vermillion
Dale Vermillion, an industry icon, has trained over 1,000,000 lending professionals and worked with more than 600 organizations. He is a three-time HousingWire Vanguard, a member of the 2022 Global Mortgage 100, and the author of Navigating the Mortgage Maze. Dale is also the founder of Mortgage Professionals Providing Hope.
Connect with Dale
LinkedIn → linkedin.com/company/dalevermillion
Facebook → facebook.com/dalevermillionofficial
X → x.com/dalevermillion
Website → dalevermillion.com
Email → [email protected]
About Batting 1,000
Batting 1,000 with Dale Vermillion is a production of Mortgage Champions. The show is produced and edited by Jake Vermillion. Music by Envato Elements.
Copyright © 2024 Vermillion Consulting, Inc. All Rights Reserved.
