Reply To: Getting Data/Advice

[Dustin Owen]

Over the past 12 months Rocket has funded roughly 1.3 million transactions. Only 10% of these were purchase. In the same time, Loan Depot funded 343,000 transactions and 60k were purchase. Wells ran about a ratio of 78% refi / 22% purchase. Better was only 5% purchase. I hope this helps. All of these lenders will be making a push to do more purchase business. But know that historically they all are refi heavy. There is nothing wrong with working in call center. You will earn at-bats and develop skills. However, if your goal is to one day become a self-sourced MLO who is more of an advisor who focuses on being an expert in your community and focuses on the purchase business then understand that working in a call center delays the inevitable. If it is experience you are seeking, have your considered working on a team, under a top producing MLO who is more of you want to become professionally and working for 1-2 years as his / her Loan Officer Assistant, Loan Partner, Jr. LO?

By the way, I pulled that data from a service I subscribe to called MMI