Small national Mortgage Order Mills (MOMs) Cannot Compete With The Large National MOMs
Question: I am a small national Mortgage Order Mill (MOM) and I want to raise the prices that I charge to my bank servicer clients.
Answer: If you raise the prices to your bank servicer clients, the large national MOMs will take away more of your work as they have learned to make more money with high property preservation discount rates (20% to 50%) and huge chargebacks sometimes going back five years. It won’t get any better when the economy starts growing at a faster rate. The new trend of the polycarbonate boarding of windows will take away more business from the small MOMs. Life is not always fair! The cheese is getting very old … find new cheese.