The originator’s playbook: Competing and growing in a shifting market

As interest rates continue to ease and borrower confidence rebuilds, originators are operating in a market that demands both adaptability and creativity.

To better understand how mortgage professionals are approaching today’s environment, I asked four experienced originators to share how they’re guiding clients, leveraging non-qualified mortgage (non-QM) solutions, and refining their playbooks to stay competitive. What emerged was a shared message of optimism and resilience, as well as a renewed focus on client education and relationships, two cornerstones of long-term success in our business.

Borrowers’ approach in the current environment as interest rates begin to ease 

Two 25-basis-point rate cuts this fall, plus a broadly held expectation of at least one more through early 2026, have sparked optimism among both lenders and borrowers. First-time homebuyers are finally seeing rates dip into the 6% range, which feels more comfortable now than it did even a few months ago. For existing homeowners seeking ways to lower their monthly payments or consolidate higher-interest debt, the shift has reopened the door to refinancing conversations. Rates have not returned to the historic lows of 2020 or 2021, but the decrease is enough to reignite momentum and bring new energy back into the market.

Kimber White, a partner at RE Financial Services and President of The National Association of Mortgage Brokers, said, “People now are starting to adjust. They’re feeling comfortable in the sixes, and FHA loans are in the fives. I have been busy; my volume has increased probably 30% to 40% in the past 60 days. I think the market is picking back up. More now than ever, whether it’s non-QM or conventional, we’re seeing great opportunities. If the rates hover around six and a quarter, we’re going to be fine.”

White’s perspective reflects what many originators are seeing as buyers return to the market—that momentum is paired with a growing sense of realism among borrowers, according to Nancy Aguirre, CEO of and mortgage advisor at Your Better Mortgage. “There is a level of acceptance of this interest rate environment that we’ve been in for the past couple of years. People recognize that sitting on the sidelines, hoping for a further dip or for lower prices—it’s not quite happening,” she said.

How originators are adapting their playbooks to stay ahead of the competition

Even as rates shift and market sentiment fluctuates, the most successful originators are focusing on what they can control. For example, many are refining operations, strengthening referral relationships, and doubling down on client education. The consistent message originators shared is that sustainable growth stems from discipline, adaptability, and a long-term perspective on business.

Tom Ahles, Chief Growth Officer at Edge Home Finance, said, “I can’t control what the market’s going to do—whether it goes up or down. I want to make sure we’re still gaining and taking market share, which is the biggest opportunity for us as brokers. There’s still potential to grow and provide superior value to realtor partners and referral partners, regardless of what the market is doing. Our model is to empower each of our loan officers to be the CEO of their own business. Keeping our heads down and focused on what we can do today, regardless of interest rates, is the biggest thing for me.” 

Staying competitive in this environment means remaining proactive and informed on market trends. This early easing cycle is a valuable time for originators to educate borrowers on long-term planning rather than short-term rate changes. Originators might also be wise to use this period to broaden their product offerings and expand their businesses in order to serve a wider range of borrowers, including through non-QM opportunities.

The role non-QM plays in today’s housing market

While traditional lending continues to serve most borrowers, non-QM products are increasingly meeting the needs of clients who fall outside conventional guidelines. Whether for self-employed borrowers with complex income streams or investors looking to access their equity, non-QM solutions have become an essential part of the originator’s tool kit.

Eric Lieberman, owner of and broker at Palm Beach First Financial and Mortgage Co., said, “I’ve seen a huge increase in non-QM. When I first got into the industry, it was maybe 10% of my business. Now, I’m probably 80% non-QM, 20% conventional. A lot more people are gravitating toward non-QM products. They might have been hesitant before, thinking they’d pay a much higher rate, but once I show them the comparison, they realize the rates are very competitive.”

White echoed Lieberman’s comments, emphasizing the importance that originators learn more about non-QM so they can confidently address the surge in borrower interest in this type of mortgage. “The non-QM market is picking up, but there’s still a lack of education. A lot of brokers and loan originators are not educated in non-QM, and you can’t just throw non-QM against the wall. You’ve got to know the product,” he said.

As awareness and education of non-QM continue to expand, more brokers are recognizing the value of non-QM programs as a means to reach borrowers who were once overlooked. Aguirre added that the non-QM space is a source of untapped potential. “There’s so much opportunity. It’s so underutilized,” she said. “Even now, when we can offer home equity lines of credit or bank statement products, most homeowners are sitting on 50% equity. Imagine not being able to tap into that and reinvest it into another purchase or a renovation or use it to consolidate debt.”

Together, these insights highlight how non-QM has evolved from a niche option into a core driver of growth in the modern mortgage market.

Renewed momentum ahead

As the industry continues to adjust to the new rate environment, the outlook remains positive. Originators are finding new ways to connect with borrowers, diversify their offerings, and strengthen relationships that will carry them into the next phase of growth. Thanks to continued education, adaptability, and innovation, 2026 is shaping up to be a year of renewed momentum and opportunity across the mortgage market.

Tom Hutchens is the President of Angel Oak Mortgage Solutions.
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.