Lenders worry that including the language preference question on the URLA might expose them to litigation from non-English-speaking borrowers and slow down the homebuying process.
Earlier in the year, production forecasts were downright glum. But thanks to the never-ending rate rally, 2019 could turn out to be a $2 trillion-plus year for originations.
Growth in subservicing contracts slowed a bit in the second quarter as con-tinued low interest rates took their toll. It’s anticipated that once rates in-crease, more vendors could disappear through M&A.
When originations boom, warehouse banks clean up. In the second quarter commitment authority to nonbanks increased by 13.5% overall but usage rates are nearing 70%.