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In this episode, I sit down with Alec Hanson, who leads loanDepot's West division. He started originating in 2004, funded $85 million his first year, grew a branch to over 100 loan officers, and later served as CMO.
In 2022, my Gilbert branch funded $575 million. I still left millions on the table because I never understood the margin model. Nobody showed me.
Alec and I break down where your rate sheet pricing comes from, how recruiting rate sheets and big sign-on bonuses get paid back through your margin, and why your real comp is your W2 divided by your volume. Then we walk through seven questions to ask your company about raw pricing, expenses, and who controls your price.
If you do serious volume and have never seen your raw margin, watch this one before your next move.
Connect with Alec: @alecthehanson
Follow Chris: @thechrismedellin. DM me "MARGIN" on Instagram and I will run your numbers with you and build a custom pro forma.
This podcast has been edited and produced by Content by Fabio LLC
