Today’s best loan officers operate differently and expect more.

If you believe you can originate mortgages today in the same way they were done in 2018, you’ve probably been on a very remote island since then. Things like AI, well-integrated technology, consumer expectations and the rise of a number of innovative new business models have turned the industry on its head, and for the better in many cases. Naturally, this means loan officers (LOs) don’t work the same way anymore, either. They simply can’t if they wish to succeed. Today’s top producers have different priorities, skills and approaches to their customers and, really, the entire process. The best lenders have figured that out as well and have adapted to support them.

Market conditions 

If you don’t like the market conditions today, just wait a few days — they’ll change. Ok. That’s probably not entirely true, but few mortgage professionals can remember a period of such extended turbulence, and that includes the early years of the Great Recession. Interest rates have gone from historic lows to multi-year highs, housing inventory has remained stubbornly tight and affordability challenges have only seemed to intensify for many homebuyers. But wait, there’s more! Will we see significant rate cuts this year? Will they matter if consumer confidence and employment numbers plummet?  All of these driving factors have created a world for mortgage lenders where transaction volume and market conditions don’t always follow predictable patterns.

Did I mention technology has also changed? If I didn’t, you don’t have to look very far to find a dozen who will say it, and it’s not just AI that’s transforming the way we do business.  Digital application platforms, automated underwriting systems and blockchain-based verification tools have streamlined processes that once required extensive manual intervention. These are the norms now, not simply the topic of discussions at trade shows. One result has been that LOs have smaller administrative burdens. Less time spent on paperwork and internal reporting. More time to focus on clients and prospects.  What’s not to like about that?

Borrowers don’t approach the mortgage process the same way, either. They don’t start with a call during their initial steps, but rather, take to the internet or favorite apps. So by the time they’ve contacted an LO, they’re armed with substantial knowledge about loan products, rates and qualification requirements (or, in some cases, misinformation about the same). This informed consumer base, therefore, demands nothing less from their lenders than value above and beyond basic processing.

Today’s LO needs to be a true financial advisor who listens as well as talks; evaluates and advises rather than pitching the product of the day.

The financial advisor evolution

LOs are no longer simply salespeople. They’re truly financial advisors. Their job is to provide comprehensive guidance on long-term financial planning, rather than simply matching borrowers to available products. And the best LOs genuinely welcome this.

The modern LO routinely analyzes debt-to-income ratios in the context of retirement savings goals. They evaluate property appreciation potential against alternative investment opportunities and construct mortgage scenarios that accommodate clients’ broader wealth-building strategies. They’re not deterred by, but rather, welcome non-traditional borrowers, such as the self-employed or other beneficiaries of our gig economy. All of this requires much deeper financial acumen and creates more meaningful client relationships that are based on trust rather than transactional efficiency.

In short, it goes far beyond the best rate today for top LOs. It’s about client retention and repeat business. While the industry has long mouthed words about their value without really prioritizing them, these are now truly top priorities for lenders.

Beyond the signing bonus

This evolution has influenced what loan officers seek when it comes to compensation structure. Traditional commission-only models simply don’t align with the consultative nature of modern mortgage work. Increasingly, today’s LOs prefer arrangements that balance base compensation with performance incentives, recognizing the value of client education and relationship development activities that don’t immediately translate to closed loans.

Additionally, many seek compensation packages that acknowledge those self-employed or other non-traditional borrowers inherent to today’s economy. Quarterly minimum guarantees, retention bonuses and equity participation opportunities have become important recruitment and retention tools as mortgage lenders compete for top talent.

Finding the best lender partner

When it comes to deciding where they wish to build their careers, the top LOs prioritize technology infrastructure and operational support that enables their advisory role. They seek empowerment after an era of tedious and unnecessary administrative and hierarchical or institutional delay.

They seek effective tech, and it doesn’t necessarily have to be a shiny, new tech. It just has to work with minimal effort and maximum result. They need technology that helps them do their unique jobs in optimal fashion. That includes strong lending platforms with robust customer relationship management systems, sophisticated scenario modeling capabilities and seamless integration with financial planning tools. All of these, when well deployed, mean less time navigating the internal and more time advising clients.

The modern LO also seeks cultural alignment with organizations. They want to work with lenders that value client outcomes over transaction volume. Loan officers increasingly gravitate toward firms that provide sufficient time for comprehensive consultations and support continuing education in financial planning concepts beyond traditional mortgage training.

What’s up next?

Top mortgage lending executives are already adapting their recruitment, training and operational models to support this new generation of loan officers. Companies that recognize and embrace these changes — supporting the transition from sales-focused to advisory-centered approaches — know that such positioning will bring them competitive advantages in both recruitment and market performance.

You’ll be able to recognize them as the brands enjoying sustainable success regardless of market conditions.

John Cady is the CEO and President Citywide Home Mortgage.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.

Life can change in an instant. Rather than facing the future with regrets, Carl Medford writes, we can systematically alter our futures by making incremental changes that compound over time and open doors of opportunity we never imagined. 

From market changes to regulatory shifts and more, what are the biggest changes you’ve seen over the past five years?

Good question! Given the hefty upfront costs associated with renting or buying a new place in the city, hiring a moving company to transport your belongings can put additional strain on an already tight budget. That’s especially true when this service costs anywhere from $500 for a small studio to over $2,000 for a larger apartment.

Now for the good news: “There are multiple ways to save money on a moving service, from doing the packing yourself to knowing the pros and cons of paying a flat price or an hourly rate,” said Dor Klein, chief operating officer of Big Apple Moving, a highly rated company that has provided local and long-distance moving services and secure storage options to New Yorkers since 1979. 

Keep in mind that the cost of moving services varies depending on the size of your home, the distance between locations, and other factors like whether you live in a walk-up or an elevator building.  

Overall, the better you prepare for the move ahead of time, the faster and smoother it will go. Read on for strategies to reduce and manage expenses while moving in NYC.

Declutter before you move

The fewer items you pack and move, the less your move will cost. Take the time to purge your home, going room by room and eliminating all but the things you truly want to keep. Consider selling or donating anything too nice to discard.

Clearing the entrance area and hallways (both inside and outside your place) will also help the movers get in and out more quickly.

Match the pricing to the job

All moves are based on either a flat fee or an hourly rate. A flat fee, calculated in advance, remains the same regardless of the time it takes to complete the move, offering peace of mind against any complications and unforeseen delays. In contrast, hourly fees are determined by the time it actually takes—and the meter will be running until the job is finished..

According to Klein, the flat-fee model can be more cost-effective for larger-volume moves involving two- or three-bedroom apartments and townhouses, as well as for longer-distance moves, such as from one borough to another, when traffic can cause serious delays.

“You should opt for the hourly model if you are planning simpler moves like a studio or a small, one-bedroom apartment in a nearby location,” he said.

Expect to pay an average flat fee of approximately $1,250 for a one-bedroom apartment compared to $500 to $1,000 for studios and smaller apartments and $1,500 to $3,000 for larger apartments, using an hourly rate of $100 to $150. 

Do the packing yourself

Most customers opt to pack their own boxes because they prefer not to pay for this service, Klein said. This is definitely the easiest way to shave costs on your move, but only if you have the time and wherewithal to undertake this laborious task.  

At Big Apple Moving, the cost of packing ranges from $13 to $21 per box, inclusive of labor and materials. So the price saved is determined by the number of boxes.

Those with a lot of stuff and little time may choose to do partial packing, leaving fragile items such as dishes, glassware, electronics, and other valuables to the experts. 

“It’s important to be aware that any breakage or damage is only covered if the moving company does the packing,” Klein said. 

Be sure to use the right-sized box—books and other heavy objects should only go in smaller ones—and clearly label all boxes with the target room so the movers know where to place them at the other end.

Bring boxes to the curb

Unless you live on the first floor, you can take DIY packing one step (or multiple stories!) further by lugging the boxes downstairs, closer to the street. 

“This can save a couple of hours and hundreds of dollars—assuming you are not paying by the box,” Klein said. 

Organize the boxes by room and make sure the labels are visible when the boxes are stacked. 

Also, work with your supervisor or property manager to determine how far in advance you can do this before the movers arrive. 

Move on cheaper dates

The timing of your move is just as important as the process itself in terms of impacting the moving cost, much like surge pricing when shopping for airline tickets.

Generally, moving on weekends or during the peak season (May to September) will cost more than moving on weekdays or during off-peak times. 

Klein said that moving at the end of the month will also be more expensive because that is when leases typically expire, and moving companies are in high demand. 

“Moving in the middle of the month will be about 25 percent cheaper, whether it is during the week or the weekend,” he added.

The best way to estimate how much it costs to move in NYC? Request a quote—or you can use Big Apple’s free moving cost calculator. 

Consider leaving packing up rare or valuable artwork, heavy mirrors, and musical instruments (or a prized wine collection) to the pros.

“We offer expert handling by specialists, and the items will be insured by the company in case of damage,” Klein said. 

Planning your next move? Big Apple Moving provides top-notch service backed by our 100 percent satisfaction guarantee and a team of skilled movers for a pleasant, comfortable experience. Visit the website or call (212) 365-0707 for an instant price quote. 

39 Mountjoy Tce, Wynnum

A designer couple has listed their award-winning fire station home, where an original firefighter’s pole anchors a spectacular conversion.

Originally built in 1938, the Bayside Fire Station was reimagined as a one-of-a-kind family home, blending heritage architecture with contemporary design.

The property at 39 Mountjoy Tce, Wynnum is on the market via an expressions of interest campaign closing May 29.

The unique five-bedroom, three-bathroom home last changed hands for $1.4m in 2020, four years after its restoration was completed, when it was purchased by Mark Damant and Michelle Donnelly, of Little Boat Projects.

A blend of heritage architecture with contemporary style

The old engine room was transformed into expansive open living spaces

As the creative force behind Brisbane’s Howard Smith Wharves along with a slew of other mixed-use projects, the couple had a deep appreciation for the historic home.

Owen Architecture had worked with previous owners, Nicki and Michael Dalton, giving new life to the historic building which had served as the Wynnum Fire Station from 1938 to 2004.

The project scooped regional and national titles, including the prestigious John Dalton Award for Brisbane’s Building of the Year in 2016.

Marketing agent Christine Rudolph, of Ray White New Farm, said the home was a local landmark which blended its past with a new era of modern coastal living.

The kitchen has a butler’s pantry and is fitted with high-end appliances

The home is set over three lots

Ms Rudolph said the property would ideally suit a family who appreciated beautiful design.

“This really is a Bayside landmark,” she said.

“The current custodians are quite an incredible couple themselves as the creative force behind many of Brisbane’s new landmarks such as the Howard Smith Wharves, and while they did not do the original renovation, they have certainly done further work to the property since they purchased it several years ago off market.

“The Bayside Fire Station is a striking piece of Brisbane’s civic and architectural history, and now a spectacular family home, sitting high on a 1,215sqm parcel across three lots with sweeping views across Moreton Bay and its islands.”

A terracotta-tiled roof is a nod to the past

One of only four brick fire stations of its kind built in Brisbane, the home’s history lived on through a careful design preserving original features including the iconic firefighter’s pole -—every kid’s dream home feature — along with old equipment panels and interior wheel tracks.

Red accents on the front doors and a terracotta-tiled roof are other nods to the past.

The engine room was redesigned as an expansive open-plan living space, while bi-fold doors connect to outdoors, where there’s a large backyard, brick pizza oven and fruit orchard.

The home has five bedrooms

…and three bathrooms

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Downstairs also hosts a library lounge and separate guest wing with study, while four bedrooms and two bathrooms are upstairs along with a lounge and balcony taking in beautiful bay views.

PropTrack data shows house prices in Wynnum were up 17.7 per cent over the past 12 months, to a median of $1.295m.

A picture of the building when it was in use as a fire station between 1938 and 2004

The post Firefighter’s pole anchors incredible station conversion appeared first on realestate.com.au.