Industry
As 2024 winds to a close, the mortgage industry finds itself at a crossroads, shaped by fluctuating rates, market challenges, and the steady march of innovation. Michael Hammond, President and Founder of NexLevel Advisors, shares his perspective on the lessons learned this year and the trends shaping the future of the industry.
Reflecting on 2024, Hammond highlights two divergent strategies among mortgage companies. On one side, some leaned into innovation, investing in automation, AI, and technology. These forward-thinking companies have positioned themselves for long-term success, proving that strategic action, even in tough times, can pay off.
On the other hand, a significant portion of the industry opted for a "wait-and-see" approach. They hoped for falling rates and better volumes before making moves. According to Hammond, this passivity might leave those companies playing catch-up in 2025.
“The companies that leaned in, embracing AI and strategic profitability, are the ones poised to gain market share as conditions improve,” he notes.
While recent rate drops have sparked optimism, Hammond urges caution. "Mortgage rates aren’t directly tied to federal rate changes, and inventory remains a critical issue," he explains. Even if borrowing costs decrease, limited housing supply could lead to bidding wars, driving up prices and sidelining hopeful buyers.
Hammond’s advice to buyers: focus on affordability now, rather than waiting for the perfect storm of low rates and ample inventory.
One of the year's most significant shifts has been the rise of AI across all facets of the mortgage ecosystem. Hammond envisions a future where AI isn’t just a buzzword but a backbone of operations.
“AI has the potential to impact every employee in a company,” he states, from marketing to HR to operations. By adopting tools that streamline processes and analyze profitability, companies can reduce costs, scale efficiently, and stay competitive.
Marketing departments are undergoing a revolution driven by AI and analytics. Hammond predicts that personalization will reach unprecedented levels, with tailored campaigns based on customer behavior and sentiment. He also foresees the rise of new roles within marketing, such as video specialists and data analysts, to navigate this evolving landscape.
For Hammond, the key to thriving in 2025 and beyond lies in collaboration and innovation. Companies that partner with forward-thinking vendors and invest in profitable solutions will stand out. Profitability, he asserts, must be a central focus.
“Lenders need visibility into their operations—from loan officer performance to product profitability—to make informed decisions,” he advises. The coming years will separate those who adapt from those who don’t.
Hammond encourages lenders to find strategic partners who prioritize innovation and ROI. At NexLevel Advisors, his team specializes in guiding companies through marketing, PR, social media, and AI adoption to drive growth.
Ready to Embrace the Future?
Connect with Michael Hammond at NexLevel Advisors or find him on LinkedIn for insights into AI, innovation, and collaboration opportunities.
As Loan Vision’s Director of Marketing, Danielle “Dani” Coley oversees all aspects of the marketing function of the Loan Vision Go-To-Market (GTM) team, including, but not limited to: Demand Generation strategy implementation, pipeline budget and forecasting, vendor partner management, and Loan Vision Brand Strategy. Dani, as she is affectionately called, also oversees all corporate and educational events, including the annual Loan Vision User Conference, annual Client Appreciation Dinner, and User Advisory Council, among others. Prior to Loan Vision, Dani has spent the last 10 years working in both agency and corporate marketing spaces, spanning everything from political fundraising and EdTech, to mortgage banking and SaaS platform lead gen. Outside of her work, Dani is an eclectic soul, with a passion for film, photography, and international travel. Dani resides in Decatur, GA (by way of Norfolk, VA) where she lives with her only son, Isaiah – a rising freshman at her alma mater, Norfolk State University.
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