Partnership Dynamics and Industry Trends with Nick Steinhauer and Kreg King

By Ashley  Published On June 18, 2024

Nick Steinhauer and Kreg King are Co Branch Managers at the Columbus, Ohio Branch of Thrive Mortgage. I’ve known both of these gentlemen for a few years, and I’m excited to introduce them to you.  

Kreg has been in the industry for 15 years. He began as a processor and is now a loan officer with Nick. He’s married and has four kids. Between work family and his children he feels like his life is chaotic.

Nick joined the industry about eight years ago. Prior to this he worked in retail. Nick credits everything he knows to his partnership with Kreg. He loves helping people finance something that will create memories and traditions with their family. He’s also married and has three daughters. They also home school. 

We get to learn about the unique advantage of being partners in the loan business and how they can serve clients almost every hour of the day. They also keep their clients and partners updated on the latest industry trends. We discuss these trends including interest rates, inflation, and unemployment rates.

Episode Highlights: 

[04:20] They have an incredible amount of volume and have a lot to juggle with kids and family. 

[05:02] They can do their job from anywhere in the world. 

[06:04] Nick shares some of the advantages of having a partner as opposed to going it alone in the loan industry.

[06:58] Between the two of them, there is someone almost on duty every hour of the day. This is a real advantage to their partners.

[07:33] Part of their brand includes market updates and making information easily accessible for their partners and clients. 

[08:30] Market update: There has been positive economic news, but that doesn’t help the interest rates. Rates are going higher, and they are in the low to mid 7% range.

[10:05] The new jobs data for today was a little soft. Some additional rate cuts may come back into play.

[13:31] We discuss whether Jerome Powell will change expectations and lower the inflation target.

[14:39] Even though inflation has come down, prices aren’t dropping.

[15:36] Will there be a rate cut before November? This is an election year.

[18:28] The worst combination would be increasing inflation and a weakening job market or stagflation.

[19:08] Advice for prospective home buyers. If you’re comfortable where your mortgage payment is, go ahead and pull the trigger.

[22:20] We probably won’t see low fives anytime soon.

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