Nonbanks and fintech firms have made major in-roads in mortgage originations and now account for a significant chunk of the market and are continuing to expand through regulatory arbitrage, according to analysts at Keefe, Bruyette & Woods. Discussing the so-called disruptors in the mortgage market during a recent podcast, Bose George, chief of mortgage research at KBW, and Brian Gardner, KBW’s senior policy analyst, reported that nonbanks now originate 38 percent of all ...
Lenders cited various technology issues, costs and difficulties getting loan officers to change behavior as barriers to digitizing the mortgage process.
In the first quarter, PennyMac ranked fourth among all home lenders, trailing Wells Fargo, Chase Home Finance and Quicken, according to a ranking from Inside Mortgage Finance.
Almost every week it seems like a lender launches a digital mortgage process allowing for loan applications to be received and processed online effortlessly and efficiently. However, according to a recent survey of lenders, a number of barriers stand in the way of digital mortgages. Lenders cited various technology issues, costs and difficulties getting loan officers to change behavior as barriers to digitizing the mortgage process. Some 73 lenders participated in the survey administered by the Strategic Mortgage Finance Group earlier this year. The top barrier to digital mortgage offerings was...
Commenting on the latest revelation from Walter, Keefe, Bruyette & Woods said, “Given the lack of visibility, we maintain our underperform rating and $1 price target.”
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
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