Anti-Fraud, Title, and Broker Products; Conventional Conforming News

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Posted To: Pipeline Press

Last week the Mortgage Bankers Association’s survey showed that retail applications dropped almost 12% last week from the week before. Refis were down 17 percent – in one week! Lots of folks are being asked by management about projections for 2020. Have fun estimating volume, margins, and “person-power” needs. And how much of your competitor’s market share can you grab? Will credit unions and brokers continue to grow? The MBA’s Joel Kan observed, “Our 2018 volume estimate was $1.6T, with $1.2T of that purchase. We currently have $1.9T for 2019 and $1.7T for 2020 . For 2019 we have just under $1.3T purchase and $670B refi.” Rates will drive refinancing, as well as corresponding “refi burnout” which involves borrowers who either aren’t…(read more)

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