Marcia's Blog

How the mortgage industry should be measuring success

At the end of the year, it’s natural to reflect on recent successes. However, success is relative.

While we often measure success in terms of profits and revenue, sometimes it’s important to take a step back and look at the bigger picture. When it comes to the mortgage industry, the numbers don’t compare to the positive changes that we’ve helped to bring to individual consumers’ lives in 2016.
Financial counseling is at the heart of the homebuying process. Not only does it provide consumers with knowledge about money and better skills that will benefit them for life, but in many cases, financial counseling gives them the confidence they need to go through the homebuying process in the first place.

There are many people who are qualified to buy a house, but they choose not to buy a house because they don’t think they’re ready. Through financial counseling, we’ve helped clients by giving them the extra nudge that they’ve needed. For example, Miko was a single woman who understood the value of homeownership but wondered if she should wait until she was married or had a family to buy a house. By working with us, she realized just how ready she was to be a homeowner, and she hasn’t looked back since. 

Some of our success stories show how we were able to save homebuyers time, energy and money. For example, once our client Tamara found her dream home and the inspection was completed, she learned that there was damaged plywood in the attic. HomeFree-USA recommended that Tamara ask the owners to make repairs before the sale, which they readily agreed to do. That move alone saved Tamara money on making the repairs herself, as well as the headache that would have come with it.

Our success stories come from all kinds of backgrounds. One of our clients, Christine, proved that you can never be too educated to need financial counseling. It’s something that can benefit all of us. Christine was in graduate school studying speech pathology when her father urged her to buy a home of her own so she would be able to start building wealth. Christine knew this was one of the biggest investments she’d ever make, so she wanted to make sure she knew the ins and outs of the process. By working with us, she became comfortable with the process and learned about down payment and closing cost assistance programs at the same time. 

All of the people that we worked with this year are celebrating the holidays in their new homes. All of us in the mortgage industry should take pleasure in knowing how we were able to help people to not only achieve the dream of homeownership, but to take steps to build wealth and create a better financial future.

May we all enjoy similar success stories in 2017. Happy Holidays!