It is essential for those lending to keep strong relationships with the agents in real estate because they are forward purchase borrower’s gatekeepers as they start guiding them by the process of purchase. These participants added to the point, the high cost of compliance. The report of Cities estimated that the costs of originating mortgage will increase by 24 percent. Then, for servicing this loan, prices will approximately equal a challenge for entering either into business but organizations will require approximately 100 million dollars in originations for remaining as solvent. Those outsourcing stood for benefiting as a consequence (Bachelor, 2014). After taking into consideration such forces, the analysis from Cities then posited if this even would make sense of remaining in the business of mortgage with rise in costs and shrinking opportunities. They further informed that mortgage origins should no more be a leader based loss with anticipated mortgage servicing return.
Only the major lenders therefore competed in the space of qualified mortgage. Within the non-Qualified mortgage space, it will be competition of non-bank in the year 2014. Small banks furthermore will have likeliness of still offering mortgages but with more dependence over mortgage operation outsourcing. The next question was on keeping oneself and the team mates properly motivated. To this, 50 percent participants reflected that their team mates were boosted through consistent appreciation given to them after anything that they have done properly. The mortgage brokers often engaged in providing them with training as well as support in the form of counselling in order to offer maximum advantage to the new mortgage broker recruits. Financial motivation was done by remaining 50 percent participants (Bachelor, 2014). This financial based motivation as per these participants helped in boosting the morale for short term period after which they desire for a higher boost.