Brokers, originators need to look beyond bottom line and advise even when a client's not ready to buy, says exec
As a mortgage originator, it’s easy to get drawn into focusing on aggressive sales strategies, automation, and relentless attention to the bottom line to drive business and carve out success.
But Carolyn Morganbesser (pictured top), assistant vice president of mortgage origination at Affinity Federal Credit Union, is championing another approach: one that emphasizes education, transparency, and a commitment to every borrower’s long-term wellbeing – even when that means telling them they’re not ready to buy.
“I’ve told people, now is not the time for you,” she told Mortgage Professional America. “Pay off some debt. Save a little more. Because if you’re working just to keep the roof over your head, you’re not going to have a life – and that’s not a good feeling to put someone in.”
That’s a philosophy that can bring originators generational loyalty, Morganbesser said, as well as closings. “I’ve done mortgages for grandparents, then their kids, and now their grandchildren,” she said. “They don’t shop around. They just say, ‘Call Carolyn.’ That’s the relationship.”
Looking beyond the transaction
Morganbesser said the community-first mindset centers around treating every client like a neighbor, whether they live in New Jersey or California. That perspective starts with financial education.
“When I started, financial education wasn’t even a buzzword,” she said. “But I always told borrowers: ask me anything. If I have to explain it a hundred times, I haven’t done my job well.”
Originators should treat each loan as unique, she said – especially for self-employed borrowers or those with complex financial profiles. Affinity, for instance, follows the same federal regulations as banks, but also maintains a portfolio for loans that fall outside conventional guidelines.
“We had one borrower whose debt-to-income ratio was at 60 – way outside the norm,” she recalled. “But he had significant assets and was self-employed. It made sense, so we made the loan. We look at the whole person.”
Fostering lasting connections
Far from being a soft skill, kindness is actually a business strategy, according to Morganbesser. “It may sound corny,” she said, “but being accessible, being kind, it makes a difference. People remember how you treated them.”
A communication style that blends directness with compassion is essential, she said – even when conversations get uncomfortable.
“When you’re talking about finances, people get defensive, especially if they don’t understand something,” she said. “You need to be comfortable being uncomfortable and always come from a place of service.”
Even after closings, Morganbesser stays in touch with clients. “I’ve been to weddings, bar mitzvahs, even wakes,” she said. “Because when people know you’re with them for the long haul, they don’t just come back, they send their friends.”
In a tough market, values matter
Despite her decades in the industry, Morganbesser says today’s housing conditions are among the most difficult she’s seen, with inventory shortages, rising rates, and mounting affordability challenges. “I had one client outbid by $100,000. He just said, ‘I’m done,’” she said. “And I don’t blame him. The pressure is immense.”
Recent studies suggest the majority of US homeowners hold mortgage rates below 6%, with a significant portion locked in at under 3%. That’s kept many would-be sellers on the sidelines, further squeezing supply – especially in high-demand areas like New York and New Jersey. “You’re not going to sell a home with a 3% mortgage to take on 7% unless you absolutely have to,” she said.
Still, she believes the long game is what sets sustainable mortgage practices apart. “I’m not here to sell you something that’s going to make your life harder,” she said. “I want you to get the house, and still go out to dinner once in a while.”
Morganbesser is urging peers that sustainable lending is built on trust, which in turn leads to business growth. “The best compliment I get is when someone calls and says, ‘So-and-so told me to call you,’” she said. “That means I did something right.”
