The mortgage factory model was revolutionary in 1940.
And originators are still using it today.
For 80 years, the industry has been bolting new tech onto the same human-powered assembly line. The result: Origination costs have risen to about $12,000 per loan.
District Lending makes $2,500 more per mortgage than they did 6 months ago.
Same borrower pricing. Same LOs. They just replaced their wholesaler + LOS + POS + PPE stack with Pylon.
