David Margulies, Executive Vice President of Wholesale, Corespondent and Strategic Alliances of AnnieMac is interviewed by Andrew Berman at 2016 MBA Regional

During a recent interview with the Mortgage News Network, AnnieMac's Executive Vice President of Wholesale, Correspondent and Strategic Alliances David Margulies discussed the reasons behind the resurgence of wholesale and mortgage brokers, and the importance of the personal touch in the loan process.

David Berman of MNN conducted the interview with David during the 2016 Regional Conference of Mortgage Bankers Associations at Atlantic City in March. David said he's been going to the conference for 15 years, and finds the networking opportunities to be highly valuable.

"It's always a great show to go to," David said.

When asked about the reasons for the recent resurgence in wholesale and mortgage brokers, David said that it's a benefit to the relatively small "mom-and-pop" brokers who might otherwise get "lost in the shuffle."

Larger organizations can afford to spend a lot of money on compliance and building their infrastructure, David said. The relatively small brokers don't have that luxury — especially these days, when they don't have the same volume of loans they had a decade ago.

"So for us as an organization, we're able to provide them the back-office support they need," David said. "The compliance. And we're able to allow them to do what they do, which is build relationships in their communities."

In response to a question about push-button mortgage apps, David said that the presence of a person who can work with the borrower directly is still as important as it ever was.

Unlike applying for a credit card, for example, getting a mortgage is personal. It's one of the biggest financial commitments most people will make.

David said the borrowers are better off having somebody who understands their situation, and can speak to them directly if there are any issues in an application.

"This is where you're going to raise your family," David said. "This is where you're going to grow. You want to make sure that you're doing what you need to do in order to get the best deal for yourself."

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