E25 - Coby Hakalir - It’s Time for Mortgage Acclimation

Episode 25 - It's Time for Mortgage Acclimation

I just had an incredible conversation with Coby Hakalir, VP of Mortgage and Ancillary Services at T360, and this episode of Minds of Mortgage is packed with insights you need to hear.

Coby brings a unique perspective – he's been in the mortgage industry since he was 19, back in 1997, so he's witnessed the entire evolution from traditional practices to today's tech-driven landscape. What he shared about the future of integrated housing services will change how you think about our business.

Here's what hit me hardest: Coby called our industry's failure with younger buyers "abominable," and the stats back him up. The median age of first-time homebuyers has jumped from 27 in 1975 to 38 today. That's not just a trend – it's a wake-up call about how we've completely missed the mark with an entire generation.

We delved deeply into why seamless integration between mortgage and real estate is crucial, drawing fascinating parallels to healthcare models where collaborative care consistently outperforms fragmented services. However, here's the thing – when this one-stop-shop approach is executed poorly, it actually damages relationships and hinders future business.

The conversation got fascinating when Coby described our industry's refinance dependence as "the crack cocaine of the refinance." While we've been reaping the benefits of refi booms, we've forgotten how to build sustainable, customer-focused business models. Meanwhile, real estate has been forced to innovate without that safety net.

And about AI? Coby nailed it: "AI won't replace loan officers, but loan officers who use AI will replace those who don't." We explored how technology isn't the enemy – it's a tool that empowers both more informed customers and more efficient loan officers.

This episode tackles the generational divide that's killing our customer acquisition, the technology resistance that's holding us back, and the mentorship gap that's threatening our industry's future knowledge transfer.

If you want to understand where mortgage is headed and what you need to do to stay relevant, this conversation with Coby is absolutely essential listening.