Key facts
- Shant Banosian, president at Rate, believes the current market is a "separation season."
- He leads 2,000 originators and has personally closed over 40,000 loans totaling $10 billion.
- Banosian sees an opportunity for top originators in the current rate environment above 7%.
- Top originators are advised to combine data and technology with real advice.
- Rate's strategy includes non-QM products and AI in operations.
Shant Banosian, president at Rate, has characterized the current market conditions, with interest rates above 7%, as a "separation season." This period, he explained, is when the most effective mortgage originators distinguish themselves from the rest of the industry. Banosian, who oversees 2,000 originators and has personally facilitated over 40,000 loans valued at more than $10 billion, believes this environment presents a significant opportunity that many in the industry are overlooking. In a podcast episode, he discussed how leading originators are integrating data and technology with genuine advice to grow their businesses. He also touched upon the role of non-QM (non-qualified mortgage) products and the use of AI in operations as part of Rate's strategic plan, emphasizing that freeing originators from administrative tasks allows them to focus on building client relationships, which is crucial for business expansion.