Is the mortgage industry nearing a tipping point in terms of homebuyers using online capabilities predominantly to secure financing for the biggest purchase of their lives? That increasingly appears to be the case, a recent survey suggests. Nine out of 10 respondents to a survey commissioned by Discover Home Loans said they used online technology of one form or another in the home financing process. One of the benefits of technology is that it ...
Electronic signatures and records have become such crucial components of mortgage lending that lenders need to understand the process and the risks to avoid potential liability, according to panelists at a recent webinar. Several significant regulatory actions in 2014 opened the door to the increased adoption and use of electronic records and signatures. However, lenders face growing pressure from regulators to maintain appropriate measures when ...
The top five lenders in the industry accounted for 33.8 percent of total production last year, down from a combined 40.8 percent market share back in 2013.
2014 wasn’t a great year for mortgage origination volume, but the market rallied from a dismal start to finish on a more positive note, according to a new Inside Mortgage Finance market analysis and ranking of top loan producers. Mortgage lenders originated an estimated $1.24 trillion in new home loans during 2014. That figure, which includes home-equity lending, was the industry’s lowest annual output since year 2000, when total originations barely topped the $1 trillion mark. Mortgage production fell a hefty 34.4 percent from 2013 levels, including a modest 1.4 percent drop in the fourth quarter of 2014. The soft fourth-quarter volume was...[Includes two data charts]
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