NMP - December 2016 - 39


Legends
of Lending
By Phil Hall

the primary driving factor for
borrowers making mortgage
selections.

expanding the market and not
taking business away and that has
been proven over the last year.

There has been data from around
the country suggesting that
affordable housing is becoming
more elusive to locate. In your
opinion, what can be done to
ensure greater housing
affordability?
David Schroeder: That is a
question of supply and demand.
Hopefully, if the economy
continues to evolve, we can get
more entry-level housing available.
The industry also needs to do a
better job in educating people
about opportunities that exist for
them. Many people in the
marketplace are intimidated by the
market or unsure of what they
could afford. Our job is to get out
into the community and let people
know there are products that
require less than 20 percent down.
We can play a role in driving that
education.
That is one reason why we
launched Rocket Mortgage-the
majority of people who came to
Rocket Mortgage were first-time
homebuyers. We believed we were

How has TRID impacted Quicken
Loans' operations?
David Schroeder: TRID achieved
its objective of improving
transparency, which is best for the
customer. We conducted TRIDrelated training for more than a
year in advance of the rule going
into effect and we were better
positioned than most in the
industry. Over time, we will
continue to fine-tune based on our
learning.
How is the company
approaching marketing
strategies, particularly on social
media?
David Schroeder: We believe there
is a real partner connectivity
element to this that has yet to be
realized. We continue to reinforce
the fact that we're in people's
markets with our partners. We hold
"In Your Market" events, where we
sit down and talk about our
business. On social media, we
have a private Facebook Page
where our partners get together

"Doing the right thing when nobody
is looking is what builds a business
that stands the test of time-and Quicken
will be here for the long-term."
David Schroeder, Vice President and Charlotte, N.C. Site Leader
for Quicken Loans Mortgage Services

and talk candidly about where the
market is today. We believe this
enables everyone to spread ideas
more efficiently.
What do you see as the
company's greatest challenges
for 2017?
David Schroeder: We believe there
will be a contraction on the
refinance side. This will challenge
us to continue to be an effective
partner with banks, brokers and
credit unions in helping them react
to that change.
Whether it involves adding new
technology or extending our

marketing, we are here to help our
partners continue to grow and gain
market share. The market is always
evolving and shifting ... I love that
about our industry and the amazing
brokers we support who meet that
challenge every day.
If Quicken Loans could be
described in a single word, what
would that word be?
David Schroeder: "Evolution." We
are constantly evolving with the
market. We are looking at what
happens and are reacting
proactively to build our partners'
business.

Phil Hall is managing editor of National Mortgage
Professional Magazine. He may be reached by e-mail at
PhilH@NMPMediaCorp.com.



Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
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NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
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