Mortgage call-center platforms are in high demand these days, according to industry advisors, but there’s one key caveat for potential buyers: rising interest rates. “Who’s looking at buying call centers?” asked Paul Hindman, business development chief for Grid Financial Services. “Just about everyone.” It would appear...
All three major food groups in the contemporary mortgage market – government-insured, jumbo and conventional conforming – saw roughly the same drop in new originations from the fourth quarter of 2015 to the first three months of 2016, according to a new analysis by Inside Mortgage Finance. Production of loans with FHA, VA and rural housing guarantees held up a little better than the other sectors, with estimated originations slipping 1.0 percent from the fourth quarter. Although purchase mortgages account for a relatively higher share of originations in the government-insured market, there was a boost in refinance lending, especially in the VA program, that helped sustain overall production in the sector. The conventional-conforming and jumbo markets were...[Includes two data tables]
Production of loans with FHA, VA and rural housing guaranties held up a little better than the other sectors, with estimated originations slipping 1.0 percent from the fourth quarter.
MorVest's David Fleig predicted that nonbanks – which have been gaining market share the past two years – eventually will move to convert some of their MSR assets into cash via bulk sales.
“If nothing is done in the near term, the natural progression could be a spillover of mortgage originations that favor the private-label market,” S&P said.
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