Editor’s Note: Reflecting On 2024 And Looking Ahead

After a turbulent year marked by volatile markets, technological disruption, and shifting consumer behaviors, STRATMOR Group’s latest Insights Report offers actionable strategies to help mortgage lenders navigate and capitalize on emerging opportunities in 2025.

The firm’s experts tackle the most pressing issues faced by lenders, from improving communication with technology partners to streamlining operational processes and adapting to rapidly changing market dynamics. Using STRATMOR data and its experts’ frontline experiences, the article outlines strategic considerations that will shape mortgage lending next year and provides valuable strategies and recommendations. 

STRATMOR underscores the importance of establishing consistent profits before pursuing long-term strategic goals. Drawing on inspiration from Abraham Maslow’s hierarchy of needs, the firm presents a framework for lenders to follow in 2025 to help ensure they will be profitable before expanding. 

Principal Jennifer Smith highlights the crucial need for regular operational process reviews, identifying seven key process errors that can impact repeat business and referrals. “It takes real grit to want to look under the hood with an objective eye and to do so on a regular basis,” Smith writes. “I see operational reviews as an annual check-up or semi-annual teeth cleaning.” 

Senior Partner Nicole Yung emphasizes the power of transforming raw data into actionable insights and advocates for comprehensive benchmarking, strategic peer data comparison, and historical trend analysis. Yung recommends several ways lenders can take advantage of all the data they have at their fingertips, noting that by treating data as a strategic asset, lenders can illuminate hidden opportunities and mitigate potential risks more effectively.

In the report, Senior Partner Garth Graham warns that the anticipated refinancing surge is not a surefire solution for solving lenders’ financial challenges. “I’ve talked with many lenders who believe at the core of their beings that as soon as the next wave of refinances hits the business, all of their problems will go away,” Garth says. “But that isn’t guaranteed.”

Customer Experience Director Mike Seminari stresses the power of storytelling in building better customer relationships, with STRATMOR data showing 90% of borrowers choose lenders based on personal or trusted experiences. In the mortgage industry, stories are not just background noise—they are the primary instrument for building connections, retaining leads, attracting talent, and ultimately driving revenue, according to Seminari. 

Seminari also advises companies to examine their storytelling approach. “Think about your company website, especially the heavily hit ‘about us’ section,” he suggests. “If I held my hand over the logo, would I know the difference between your company and every other lender out there? You, your team members, your customers, and your partners all have stories to tell. And right now — it’s more important than ever.”