Business
Mortgage Brokers Embrace Change as Clients Hold Off on Home Purchases

CHARLOTTE, North Carolina — As prospective homebuyers wait for lower prices and mortgage rates, mortgage brokers are navigating new challenges. A recent report by the Bank of America Institute highlighted that three in four respondents expect home prices and mortgage rates to fall, increasing from 62% in 2023.
Stacey Melton, vice president of Reasy Financial, shared her experience of transitioning to an independent brokerage. She met her business partner, Jason Servais, through a mutual coach and, after aligning their visions and values, they launched Reasy on February 1, 2023. Melton noted that while 2023 was difficult for keeping the business afloat, growth surged in 2024, expanding their workforce to 20 employees.
Partnering with United Wholesale Mortgage (UWM) was crucial, Melton said. “UWM was definitely instrumental in our success,” she remarked, emphasizing how UWM’s commitment to brokers helped their business thrive. She addressed a common misconception that brokers lack control in transactions, stating, “As a broker, I can find the loan product that fits my clients’ needs.”
Linus Thalman, CEO of Golden Mortgage, opted to join the brokerage space in March 2024, also with UWM’s support. He previously worked for a retail mortgage company and noted improved profitability since transitioning. “It was an easy pick with UWM,” Thalman mentioned, praising their supportive approach compared to retail lenders.
Blake Bianchi, founder of Future Mortgage, started his venture in 2021 after seeing the high costs associated with retail lenders. He focuses on providing transparency and competitive pricing while offering substantial support to his brokers. “The barrier to entry is fairly easy,” Bianchi said, but warned that managing a brokerage involves significant capital and ongoing audits.
As the market recalibrates, affordability remains a top concern for potential homebuyers. A significant 39% cited cost of living as their primary reason for relocating. Even with rising rental and ownership costs, consumers are opting to downsize or shift to more affordable areas.
The trend is reinforced by Bank of America’s insights, revealing that while homeowners with fixed-rate mortgages are shielded from rate spikes, hidden costs can hinder many from homeownership. “Many are trading down to less expensive areas,” the report concluded. This shift reveals that affordability is heavily influencing where people decide to buy or rent homes.