Mortgage Origination

A mortgage broker realised her business was commoditising. Rates moved in lockstep. Processing times were nearly identical. Service quality was table stakes. She couldn't compete on price, speed or expertise. So she tracked her client's life cycles. When she closed a 30-year mortgage with a young family at age 35, that client would refinance in seven years when rates dropped. Again, in 10 years, when upgrading homes. Again, in retirement, when downsizing. Lifetime value was four to six originations, not one. She changed compensation entirely. She stopped optimising for closing volume and started optimising for retention. Every close launched a 12-month follow-up protocol.