How mortgage brokers can up their competence in a tough market

And the industry is ever-evolving, too, with the rise of artificial intelligence sparking new questions about the role of technology in the mortgage process and the potential for new and sophisticated methods of fraud.

Against that backdrop, how should newer brokers and LOs set out their stall for success in turbulent and unpredictable times?

For Andy Harris, president at Vantage Mortgage Brokers, that should begin with an education-based approach – and not simply prioritizing dollars and cents over real expertise.

“My first advice would be simple: focus on competence before sales,” he told Mortgage Professional America. “Learn the guidelines. Learn how underwriting works. Learn how to analyze income, assets, and risk. Learn how to structure loans properly.

“Too many people try to market themselves before they actually understand the product they’re selling.”