Posted To: Pipeline PressNow that we’re more than halfway through the third quarter, how’s it shaping up for lenders? Yes, the industry has reduced its ranks, therefore cutting costs. In terms of production, with $1.6 trillion expected this year, we are seeing fewer refis (but they’re still out there, and account for 39% of apps) and more purchase biz. But the Mortgage Bankers Association trimmed its third-quarter outlook for total business slightly, and now is expected to hit $443 billion this quarter, $370 billion in the 4th quarter, and $328 billion in the 1st quarter of 2019. The trend is not our friend. Upcoming Events and Training Do you need to accelerate your digital mortgage journey? Register for an exclusive webinar presented by the CMBA Mortgage Technology & Marketing on August 22nd…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631