Kelly M. Adkisson is a Managing Director with Accenture Credit Services, which offers consulting, process re-engineering, systems integration and management, and business process outsourcing services for residential mortgage, commercial lending, leasing and automotive finance lenders and servicers.
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process.
There is little debate that the refinancing wave is winding down and we are approaching a return to a purchase mortgage market. But as refinances retreat in the face of rising interest rates and the housing recovery continues to drive up purchase volume, lenders can expect a significant period of transition.
With the recent turnover in leadership at the Federal Housing Finance Agency, we may be standing at the precipice of great change in the government’s role in supporting the mortgage market through Fannie Mae and Freddie Mac.