To ensure a steady community presence, the firm utilizes video to communicate with its clientele and would-be customers, he said. The company also stages community events as forms of client appreciation – including renting out a couple of theaters to stage a movie night just for NXT clients and their families.
Asked about the state of the industry, Hodgson expressed optimism: “We’re definitely seeing broker share is increasing this year and is going to be higher at the end of the year than it was at the beginning of the year,” he said. “So even though the overall pie market is shrinking, we’re getting a larger portion of that.”
Read more: “I can do it better”
Hodgson then provided an inside-the-ballpark view on his firm’s roadmap for success: “A lot of NXT’s growth this year, and being able to stabilize and not be down on production, is because we’ve been seen a lot of retail LOs coming over to the broker side. They’re noticing our rates are lower, our margins are better. They can make more money. They still have all the high-level service technology – everything they get at their retail lender they can get on the broker side, and more, because they’ve got those options of flexibility, obviously an organization like AIME and more product options – some of those non-QM and CSCR and bank statement loans. So, they have more when it comes time to close a loan. We have focused really heavily the last few months on attracting and retaining retail LOs to come over to the broker side because we truly believe in the broker model.”
He expounded on the model: “I think it’s the best model for most people,” he said. “I think every model has its place. Certain individuals might be better in one model or the other. But I think the broker model is a great place and seeing the growth of the broker community the last couple of years has been awesome. I think that’s going to continue into the rest of this year, and into 2023 and so on.”