You make a good point. Having already booked $1.1 billion in the first month of Q2, it shouldn't take much to "surpass first quarter levels." which was $1.9 billion booked in Q1, That is not exactly a stretch goal. Robbins is not really telling us anything. Perhaps he is being very conservative in his forecasts. If not, then he does not have much confidence in the INV business model. One would think that Q2 funding would far exceed Q1 funding if growth prospects are on track.
The new applications number was clearly disappointing. IMO, this now looks like another money losing quarter, depending on the timing of converting new apps to mortgages.
Nine out of 26 offices reaching maturity indicates a long incubation time per office -- perhaps nine months to a year -- before each office contributes meaningfully to profits. IMO, this is a very good trend indicator, but only for the LONG term.
In the meantime, costs are rising while production is not hurdling breakevan.
What does the board think of this quote:
"we believe that, in the second quarter, mortgage funding volume will surpass first quarter levels."
INV needs to average $386M the next two months to meet Mr. Robbins' belief.
the news is good the market is up and INV lol goes down. Is this a bad thing or a trend? Nope its a small cap stock and the fact that one or two shareholders may need to sell to pay child support this week means as much as billions in refinancing - short term. lol
Yes, notwithstanding that April loan applications slowed from March levels due to rising interest rates and a decline in refinancing, Robbins says Q2 funding will exceed Q1. So "mature" branches go from 9 to ? at end of Q2. I wonder what number Robbins has in mind. As long as INV has been doing this, I would think mature branches would be greater by now. Means lots of potential down the road.