With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.
Working from home is going pretty well for lenders, with some reporting increased productivity and only one out of 33 surveyed noting a reduction in profits.
Compensation levels of loan originators increased to $24,000 per month during the second quarter from $15,000 a year ago, according to data vendor LBA Ware.
Having hit a rocky patch during the pandemic, Impac Mortgage will be late in reporting first-quarter results and it’s selling most of its MSRs. What’s next?
Mortgage REITs came back from the brink this week, but the sector is not out of the woods quite yet. Thanks to the coronavirus, financial uncertainty remains the watchword.
A new reading on mortgage employment from the federal government was barely positive but interviews conducted by Inside Mortgage Trends suggests that plenty of lenders need workers.
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