HousingWire recently spoke to Ryan Carry, SVP of Wholesale at Change Wholesale, about the wholesale channel and how brokers can gain an advantage in the current fluctuating market.

HousingWire: How is the current fluctuating market affecting the wholesale channel?

Ryan Carry: At Change Wholesale, we welcome and embrace fluctuations and changes in the market. It’s one more opportunity to shine and showcase our diverse products and services, especially in the non-QM space, and reconfirm for our many partners that by working with us, they can offer their clients an exceptional array of comprehensive mortgage solutions not available anywhere else in the market.

HW: What can brokers do to gain an advantage in this marketplace?

RC: It’s not enough anymore for brokers to offer their clients and customers the widest range of mortgage choices and solutions. They must also own and demonstrate a mastery of each product so that their clients can easily differentiate that extra level of care and quality they’re receiving.   

The best brokers — the one percenters — understand the nuances and unique guidelines of each product they’re offering. Brokers become elite by offering customized mortgage solutions when their competition is offering only cookie-cutter ones. That’s how they’re able to stand out and build their business.  

HW: What kind of support do brokers need right now?

RC: They need “T” support from their wholesale partner, or what I like to refer to as: technology, turn times, track record and trust.

The leaders in our industry are at the front end of the curve when it comes to investing in technology.  With the right commitment, support and follow-through, this technology invariably leads to better turn times and outcomes for customers. Brokers looking for that competitive advantage need only look at their current partners’ track record to determine if the level of execution and performance meet their same high standards. And, of course, when it does, this builds trust, which is the most valued currency in our industry.

Brokers thriving in this kind of supportive environment can set their sights on one more “T,” conquering new sales “territory.”

HW: How has Change Wholesale helped brokers gain market share in a down market?

RC: Look how diverse and disruptive the economy has become. Post-COVID, you have more people working from home, as well as more hybrid work situations where incomes may flow from a variety of untraditional sources. Change Wholesale has responded with the kinds of innovative products that reflect this new marketplace.

For Change Wholesale, non-traditional or underbanked borrowers who may have been underserved by agency products in the past are now the very same borrowers who can help brokers take their business to new heights, regardless of market conditions.

In our opinion, brokers who serve this largely untapped market segment the best will succeed the most.