Rate President Shant Banosian on the mortgage tech arms race
Apr 1, 2025
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Shant Banosian, President of Rate and a renowned loan officer, shares his insights on the evolving mortgage landscape. He discusses the critical importance of culture and technology in achieving success. Shant highlights how embracing AI enhances client experiences while maintaining operational efficiency. He also reflects on mentorship and the significance of discipline, inspired by his parents. With an optimistic view on future opportunities in home sales, he champions client service and innovation as key to thriving in a competitive market.
Shant Banosian emphasizes fostering an inclusive culture that prioritizes employee engagement and well-being to enhance organizational performance.
The podcast highlights the crucial role of technology, particularly AI, in streamlining processes and enhancing the client experience in the mortgage industry.
Deep dives
Leadership and Company Culture
The podcast discusses the importance of a strong leadership presence in the mortgage industry, exemplified by Shant Benosian's recent promotion to President of Rate. He emphasizes his commitment to fostering an inclusive and empowering culture that prioritizes employee engagement and well-being. By focusing on the development of a supportive environment for top performers, Shant aims to position Rate as an ideal workplace where employees can thrive personally and professionally. His strategy involves enhancing collaboration, communication, and accountability within the team to achieve shared success.
Navigating Industry Changes
Shant highlights the continuous evolution of the mortgage market, stressing the need for adaptability to meet the demands of an increasingly complex housing landscape. He identifies key challenges such as rising interest rates and housing prices, as well as the necessity for superior service delivery to maintain competitiveness in the industry. The conversation underscores the importance of leveraging technology to streamline processes, allowing loan advisors to provide valuable insights to clients. Staying proactive in responding to these market conditions will be critical for long-term success.
Technology Integration and AI Adoption
The podcast delves into Shant's perspective on technology as a transformative force in the mortgage industry. He discusses the significant investments made in technology to enhance client experiences and improve operational efficiency since he joined the company in 2012. Emphasizing the role of AI in automating processes and improving service delivery, Shant believes that successful loan officers must embrace these advancements to remain competitive. The integration of cutting-edge technology not only streamlines the client journey but also empowers loan advisors to focus on building relationships and providing insightful guidance.
On today’s episode, Editor in Chief Sarah Wheeler talks with Shant Banosian, president of Rate, about the culture, technology and mindset needed to win in this market.
The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate stories. Hosted and produced by the HousingWire Content Studio.