New World Mortgage, faced with what analysts say will be an industry-wide 60 percent downturn in mortgage dollar volume in 2004, has put in place a four-pronged plan to combat the slowdown.
(PRWEB) November 16, 2004 -- New World Mortgage, faced with what analysts say will be an industry-wide 60 percent downturn in mortgage dollar volume in 2004, has put in place a four-pronged plan to combat the slowdown.
New World Mortgage closed approximately $380 million in loans in 2003 due primarily to the continued refinance boom spurred by the lowest interest rates in a generation.
Analysts have projected an industry downturn of as much as 60 percent in 2004. That means increased competition despite the fairly high number of mortgage brokerages that have closed up shop in the Charlotte metro," says Christian Werner, CEO of New World Mortgage. At the first of the year, we instituted an aggressive strategic alliance program in four areas: consumer banks and credit unions, online, Realtors, and corporate."
Werner says that because of the strategic alliances, New Worlds volume will not be down as much as the overall industry.
We developed affiliate marketing agreements with consumer banks and credit unions. In those we handle nontraditional loans. We joined the LendingTree network of lenders, and have a partnership with e-Leads. Web-based partnerships have generated quite a lot of business for us," says Werner.
Third, we have solidified a number of preferred lender partnerships with Realtors. Finally, we have developed corporate initiatives such as our US Airways partnership."
New World Mortgage, Inc. is the full service mortgage brokerage whose mission is to be a consumers financial advocate, not just a one-time lender. The Charlotte Business Journal reports that in 2003 New World Mortgage closed more loans than any other mortgage brokerage in the Charlotte metro.
The company is located on the web at http://www.mortgagemaps.com, and can be reached by telephone at 704-549-4600.
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