The employment market for retail loan officers – as well as loan brokers – continues to look promising, provided that interest rates remain low this spring and nothing comes along to spook new homebuyers. Moreover, new employment figures from the Bureau of Labor Statistics seem to bear this out. In January – the latest figures available on residential finance hiring – mortgage brokerage firms nationwide added 2,100 full-time staffers, bringing total employment in the niche to 81,600, the highest reading in several years.
The government-sponsored enterprises accounted for the bulk of financing for mortgages on condominiums and co-op units in 2015, according to a new Inside Mortgage Trends analysis of loan-level disclosures from Fannie Mae and Freddie Mac, along with data from the FHA. Some $76.01 billion in agency condo/co-op mortgages were funded in 2015, with the GSEs accounting for 96.0 percent of the volume. Purchase mortgages ... [Includes one data chart]
Some observers say the latest rate adjustments by private mortgage insurers will not have a significant impact on FHA business nor would they compel the government agency to alter its mortgage insurance premiums or policy. Others say the pricing change could trigger a race to the bottom as risks of MIP cuts increase materially. Six private MIs have announced adjusted rates over the last couple of months inresponse to new eligibility standards set by ...
“The mortgage industry is in big trouble if companies shut their doors based on a missing signature. Yes, TRID does that,” said Paul Hindman, managing director of Grid Origination Services.
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