As the refinance business slows, employers should be careful not to use the downturn as an excuse to cut back on compensation, hiring experts warn. Despite lower originations, LO recruiting remains a key focus.
Refinances made up nearly 50% of the reverse mortgages originated in the second quarter of 2021. Overall volume in the HECM market increased in the first six months compared to the same period a year earlier. (Includes two data charts.)
For refinances completed during the second quarter, 28% of borrowers remained with the servicer of their previous mortgage, the largest share since the pandemic started, according to Black Knight.