AIME CEO Jonathon Haddad on his vision for growing the broker channel
Nov 26, 2024
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Jonathon Haddad, the Chairman and CEO of the Association of Independent Mortgage Experts (AIME), shares his ambitious vision for enhancing the broker channel in the mortgage industry. He emphasizes the crucial need for coaching and support initiatives, discussing the transformative shift towards collaborative leadership. The conversation highlights how technology and AI are poised to redefine consumer engagement, while also addressing the challenges brokers face in a competitive market. Haddad envisions a future where brokers claim a significant market share, driving innovation and collaboration.
Jonathon Haddad emphasizes a vision for the broker channel to achieve 50% market share through enhanced coaching and support.
A shift towards collaboration and knowledge sharing among brokers is deemed essential for overall industry growth and performance improvement.
Deep dives
Vision for the Broker Channel
The focus is on transforming the Association of Independent Mortgage Experts, with a goal to increase the broker channel's market share to 50%. The approach taken emphasizes coaching and providing resources that enable loan originators to close more loans effectively. Jonathan Haddad highlights the need for comprehensive support for brokers, helping them elevate their sales skills through webinars and podcasts. Encouragingly, this initiative aims to facilitate brokers in navigating the complexities of the industry and achieving better results.
Collaboration Over Competition
A shift towards a cooperative and collaborative mindset is emphasized as a key leadership strategy. Jonathan reflects on lessons learned from previous leadership and advocates for sharing knowledge and resources among brokers. By promoting collaboration, the aim is to cultivate a supportive environment where brokers can learn from one another, thereby enhancing overall performance. This cultural shift moves away from fear-based competition, fostering growth through collective advancement.
Navigating Market Challenges
The broker channel is recovering from recent challenges, specifically the impact of the refi boom during the COVID-19 pandemic which caused market share declines. Data indicates brokers need to proactively engage past and future clients, especially during refinance opportunities, to improve their market share. To compete effectively, loan originators must follow up consistently with clients and leverage technology for better customer relationships. The focus is on fostering a proactive approach that encourages brokers to reach out and provide solutions that cater to consumer needs.
Leveraging Technology for Growth
AIM is embracing technological advancements as a pivotal strategy for empowering brokers, particularly through AI and data analytics. Partnerships, such as with CoreLogic, provide brokers access to crucial data that assists in decision-making and enhances operational efficiency. Furthermore, AIM is set to launch new platforms that streamline processes and improve information access related to loan guidelines. By incorporating gamification and community engagement, brokers are motivated to utilize technology effectively and improve their business practices.
On today’s episode, Editor in Chief Sarah Wheeler talks with Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), about his vision for the broker channel and the long-term goal to get to 50% market share.
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