The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Thousands of mortgage lending jobs at risk as refis drop

Refinances prepare for lowest level since 2000

Thousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000.

Interest rates continue to increase, and the Mortgage Bankers Association recently predicted the Federal Reserve will raise the federal funds rate four times in 2018 and twice more in 2019. Mortgage interest rates are expected to continue rising for the foreseeable future, meaning refinances will continue to grow less and less attractive.

Now, one expert, Inside Mortgage Finance Chief Executive Guy Cecala, said overall mortgage originations could see a decrease of 15% to 20%, leading to a job loss of about 10% within the mortgage industry, according to an article by Alistair Gray for Financial Times.

But while smaller lenders may see significant layoffs, lenders may find more luck by joining larger companies that are looking to expand.

From the article:

Larger lenders view the market conditions as a chance to snap up staff from shrinking rivals. Jay Farner, chief executive of Quicken Loans, which has become the country’s second-largest mortgage lender by volume, told the Financial Times: “You’ll see opportunity to acquire talent. As other companies see a downturn, we welcome people into our company.”

Mr Farner said: “We have a pretty unique business model that allows us to manoeuvre through challenges like this. For the broader industry, this will be a more challenging year.” He added that the pressures meant competitors were “reducing margins to earn more business”.

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