Remember when it was easier to sell homeowners on refinances? Mortgage interest rates were low enough that most owners could save money each month with a traditional rate and term refinance. As interest rates have risen, that has changed and lenders hoping to boost their refi business this year need to change the way they sell. Instead of promoting the savings homeowners can get from lower interest rates, they may consider trying a new angle...
[Op-ed] Mortgage loan officers face a challenge this year: With mortgage interest rates on the rise, the pool of eligible rate/term refinance borrowers shrinks. As that side of the business is waning, loan officers must work harder to earn a borrower’s business. So, ask yourself this: Why should borrowers do business with you over the competition?
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.