While the world watched the mortgage industry ride the pandemic turbulence, one unlikely firm managed to defy the odds. Focused on Los and Draper & Kramer, this discussion will take a closer look at their resilient performance during one of the most challenging periods for the mortgage industry.
Draper & Kramer, identifiable by its spot in the top lenders list, and Los, an agency with a reputation for robust performance, both weathered the pandemic storm remarkably well. Taking a glance at the inner dynamics of these powerhouses brings forth interesting observations.
In 2020, more than a few companies found the winds of the market quite rough. In contrast, Draper & Kramer, the Chicago-based company, known for its comprehensive real estate and financial services throughout the country, found a way to soar. How? Through a concerted focus on residential lending, among others.
Abandoning the famously vigorous National Administrative Forum (NAF) was a calculated risk. However, it potentially delivered a different set of advantage by offering the agency potential cost savings, time and resource management. Yet, the ramifications of this decision on the company’s clients might indeed be critical and potent. LOS would need to ensure that the new lending process operates efficiently and effectively without NAF for the sake of customer satisfaction.
Draper & Kramer has historically stood as a strong entity in terms of production numbers. The company’s commitment to maintaining a slow yet steady growth model, designed to weather any storm, has attributed to this consistent performance. They’ve achieved this stability by embracing the volatility of the market instead of resisting it.
Top executives at Draper & Kramer have voiced their preparations for ‘the unknown’. Their focus on cultivating a sturdy base has, remarkably, allowed the company to find equilibrium in the most unpredictable circumstances. The firm took firm steps to ensure that both external and internal factors aligned to their unique business model.
At the same time, Los has methodically carved out a significant niche in the market. Not one to shy away from challenges, the firm has remained resilient, even finding opportunities amidst crises. Their ability to adapt to situations is a testament to their strength, acting as a catalyst for change rather than being reactive to it.
Looking at the figures, Los’ impressive production figures are noteworthy, considering the unexpected turn of events given the pandemic. Solely focusing on residential lending allowed the firm to navigate the unforgiving expectations of the mortgage industry. With a custom-built strategy, Los has been able to sidestep the constraints that troubled other companies and focus on solutions to individual issues.
Riding out a crisis calls for calculated risks and bold moves. The firms have shown agility and resilience by reckoning the need for a shift in gears. For Los, abandoning NAF not only offered potential cost savings but provided time to concentrate on matters that directly impact their bottom line. Now, with an entirely new lending process, the company needs to validate the effectiveness and efficiency of this system to address its clients’ needs.
To survive and thrive in challenging times, the companies trained their focus on potential risks, while also being open to innovations in the housing sector and changes influenced by external trends. Accordingly, residential lending services became a key factor for both Los and Draper & Kramer.
The companies’ laser focus on residential lending has resulted in a unique and innovative approach to managing risks. As a testament to their out-of-the-box thinking, they adopted a strategy that relied heavily on flexibility. This flexibility helped both organizations to stand tall, even when facing unexpected demands, allowing them to offer reliable services designed to withstand the unpredictability of the housing market.
The admirable part about the companies’ approach during such tumultuous times is their ability to adapt to change. Their persistence and sturdy base serve as catalysts in carrying them over high market hurdles. The consistent output of Los is clear proof of that.
The top executives at Draper & Kramer highlighted the company’s preparedness for any market volatility. They call this readiness to tackle any situation as their ‘armor against the unknown’. As a result, Draper & Kramer was able to create a strong foundation, characterized by its thoughtful business model and strategic response to both external and internal factors.
The combined insights from both firms underscore the importance of adaptability and resilience in the face of adversity. It is evident that toughness, in combination with a willingness to explore new strategies, was instrumental in weathering the pandemic storm. As proven by their performance, the decision to focus on residential lending was a risky but ultimately rewarding move.
Moreover, by relinquishing NAF, Los discovered newer avenues for efficiency and cost-saving, though it did invite increased scrutiny and responsibilities. For the decision to pay off in the long run, Los needs to ensure the new lending process, detached from NAF, operates smoothly and effectively.
In conclusion, the year 2020 demonstrated that the key to resilience lies in the ability to embrace change. Both Draper & Kramer and Los reinforced their status in the industry, led by their proactive approach to market volatility, their commitment to client service, and their unwavering focus on residential lending. Walking away from NAF was a bold step for Los, but it’s clear the company saw this as a necessary change to achieve long-term success. That said, the effectiveness of this decision will depend on the successful enforcement of the new lending policy.
Lastly, these companies’ success stories highlight the value of preparedness and strategic thinking. It is a testament of beating the odds by careful maneuvering, adequate risk management, and most importantly, remaining anchored and adaptable amidst chaos. Coping with change does not mean just surviving. It involves leveraging the change as a stepping stone of opportunity, navigating through the turbulence and coming out as a leader. That’s what Draper & Kramer and Los demonstrated in the past year.
