High school buddy’s influence grows
That’s when Miri’s influence would loom even larger after he convinced Abazid to join him at Swift Home Loans. “After the Rocket transition, I went to Swift because of Abe, who told me wholesale is where it’s at – you have more autonomy, you have more control, etc. So I decided to give it a shot.”
The experience was transformative: “To be quite candid, after starting with Swift Home Loans, it took no more than two months to realize that this is something that I can easily do on my own. So Abe and I had that discussion and, over a year later, here we are.”
Where they are is at Rapid Home Loans, a shop they co-founded in March 2022. Was there any trepidation in launching a company in a post-COVID environment that saw a marked rise in mortgage rates?
“Absolutely,” Abazid said. “Just before we were opened, we had conversations with people who are closest to us. “The people close to me are in the mortgage industry, and all of them were against it due to the volatility in the market. But I’ve always had the mentality that if you can make it in this market, you’re going to thrive in an easier market. I plugged my ears because we already knew this was something we wanted to do, so we kept going.”
Bottom line is that people will always be in need of homes despite the rate, he suggested. “At the end of the day, people are always going to need loans to buy homes,” he said. “Whether the rates is at 10% or 2%, rates don’t determine the need in regard to people wanting to buy or refinance.”
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- Source: https://www.mpamag.com/us/specialty/wholesale/childhood-pals-launch-mortgage-business/460960
