IMB Conference: Hope you aren't missing this
IMB Conference 2023 will help you anchor your roadmap for 2023. Here's why...
MBA’s IMB 2023 Conference is just round the corner & we have all the reasons to be super-stoked.
Perhaps you should be too !
Last year, was a rough one for IMBs.
On the macro environment side, IMBs had to contend with rising interest rates and falling origination volumes.
On the business side, they had to make tough calls related to downsizing, restructuring and stringent cost rationalization.
This is where the upcoming IMB 2023 Conference (January 23-26) becomes pivotal.
As we enter 2023, we expect IMBs to lay out their game-plan with focus on:
folding non-core origination channels like wholesale and non-QM,
rationalizing fixed costs and doubling down on FTE productivity,
reprioritizing tech investments and reallocating from borrower-facing front-end projects to back-office efficiency projects, pursuing business restructuring and M&A,
doubling down on non-origination revenue streams such as MSR portfolio trades.
At IMB 2023 conference, industry leaders will delve deeper into many of these strategies and chart out a pathway for independent mortgage bankers to navigate market conditions over the next two years.
Path to profitability: Missing piece
A low effort, high impact leverage that’s currently missing from IMB’s playbook is - the use of cloud-based solutions to drive downstream cost efficiencies.
These cloud based solution could mitigate fixed cost by improving process efficiency across multiple functions such as -
loan processing, due diligence, compliance, and secondary market operations.
In fact, in a Fannie Mae survey, 37% lender respondents believed that back-end process automation is the single most important cost decrease driver for them.
Source: Fannie Mae Research
Interestingly, companies like Angel Oak, Cliffco Mortgage, and Ocwen PHH have already seen success in this area.
They have saved nearly 80% in manual processing costs across 600,000+ loans in 2022 alone.
While we are at the conference, we want to understand how IMBs think about such cloud-based solutions that drive cost efficiencies across functions.
If you are attending the conference, be sure to connect with us.
Let's discuss priorities for the new year and explore potential growth synergies.
Click on the button below.
We are looking forward to meeting friends, customers & partners in person and kicking off a successful year together.
See you at the event !