“Many Choosing the leave the Mortgage Business”
I have always viewed you as a mentor during mortgage broker career. I have been at it for just of 10 years and for me, it is long enough. It is hard for me to believe that rates have doubled in the past few months, many of my current clients are panicking and quite frankly so am I.
I have decided to get out of the business and go back to my original career, which you know is IT. The other day I spoke to my previous employer and he offered me a job and have decided to accept. It will be hard but need to do what is best for my family.
The best way I can repay you for all your kindness and coach is to hand you my data base and current clients that I am working with as I know they will all be in good hands. I’ve attached a copy of the letter that I am going to send to all of them. Currently I have just over 300 clients that I have closed mortgages for over the year a good number multiple times. I currently have 4 pre-qualification letters out and will get permission to send you their information.
Thank you again for all the support over the years, Kevin.
One way to look at the above email I received from a former competitor is to be thankful he is leaving the mortgage. It is truly unfortunate that our current interest rate environment is causing some loan officers to leave this business, but have seen all this before, but for some of us, “When Things Get Tough, the Tough Get Going!”
If you have any challenging transactions that you are having difficulty getting financed, keep me in mind.