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s the newly appointed president of Rate, Banosian sat down to discuss his vision for the company's future and the ever-changing landscape of mortgage lending. "I'll be doing both loan origination and leading the company," he revealed, "working closely with our sales force and other departments to stay ahead of the competition."

    The mortgage industry is in a state of constant flux, Banosian acknowledged, but his experience has taught him how to adapt and thrive. "We're not just a lender; we're a partner for our clients throughout their entire homeownership journey." He emphasized the importance of collaboration between departments to deliver exceptional service.

    Banosian's thoughts turned to the recent acquisition by Rocket Mortgage of Redfin, a move that could potentially disrupt the industry. While he hadn't seen it coming, he understood the strategic implications: "It's a vertically integrated home solution that could offer consumers a seamless experience from property search to financing and beyond."

    Rate's own plans for expansion include becoming a one-stop shop for borrowing consumers, offering a range of products such as credit cards, car loans, and student loans. Banosian envisioned Rate as the go-to destination for anyone seeking financial solutions.

    As president, Banosian faces the challenge of balancing his time between leadership duties and loan origination work. He's committed to making an immediate impact while staying patient and adaptable in a rapidly changing market. "The biggest issue of the year is often something nobody forecasted," he noted, citing COVID-19 as a recent example.

    Looking ahead, Banosian predicted that interest rates would decrease by the end of the year, driven by Fed rate cuts. However, if tariffs remain in effect and inflation spikes, rates could rise, affecting buyers and refinancers alike.

    To qualify for a mortgage in today's market, Banosian advised consumers to get financially prepared, with a focus on credit, income, and assets. He debunked the myth that 20% down payments are required, highlighting first-time homebuyer programs with lower down payment options.

    Banosian's office is a testament to his passion for sports, with Boston memorabilia adorning the walls. His approach to work is no different from his athletic days: "Teamwork, competition, practice – it's all about having the right mindset and being prepared to react to unexpected challenges." He views every new year as an opportunity to innovate and improve, whether in good markets or bad.

    For Banosian, there's no greater fulfillment than helping clients overcome obstacles and achieve their goals. As he settles into his new role, he's eager to make a lasting impact on the mortgage industry and Rate's customers.