Volume Rankings and Market Share Changing, Helping Smaller Lenders; Servicing Sales a Hot Topic

Hot news from AZ Home Help:

Posted To: Pipeline Press

David Stevens, the president of the MBA, is on TV today talking about the undeniable housing recovery. But a lot of that is all-cash transactions. Mortgage applications have been down 5 of the last 6 weeks. Capital markets personnel report that pipelines are down 20-30% versus October levels. I am not convinced that, "Oh, our pipelines always drop at this time of year" applies this time around. Others say, "The refi market seems a little tired (refi's are down to 75% of new apps) and although we've known that increasing our purchase business is important we haven't done much about it." The good news for "smaller" lenders is that the market share of the big banks seems to dropping . The latest figures from the 4 th quarter of 2012 reflect this. Looking at total originations & market share...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/03222013-housing-recovery-servicing.aspx

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