In this article from Mortgage News Daily, industry expert Rob Chrisman takes a look at the latest happenings in the mortgage business.
Chrisman begins by examining trends in the mortgage servicing market. He notes how some small banks are now entering the servicer field and trying to gain a foothold in a highly competitive market. He also discusses how some companies are doing a better job of servicing and how others are falling behind. With so much competition, it is essential for servicers to be efficient and provide top-notch customer service.
The next topic Chrisman discusses is investor participation. Investors who purchase loans from originators have traditionally been slow to enter the market, but that has been changing in recent months. According to Chrisman, “There is a growing trend of investors buying fewer loans but still paying higher prices.” This could be due to the possibility that smaller investors may have more money available to buy loans than larger investors.
Chrisman then examines technological changes in the mortgage industry. He points out how automation has streamlined many processes and made them more efficient. Additionally, he notes how AI-powered software is providing lenders with better insights about their customers and helping to personalize the loan process.
Finally, Chrisman takes a look at the impact of the COVID-19 pandemic. Mortgage originations dropped significantly during the early days of the pandemic, but Chrisman says that the market is beginning to pick up again. He also notes how the rise of remote working has had an effect on the mortgage industry, as more brokers and lenders are able to work from home.
In conclusion, Rob Chrisman provides an overview of the current state of the mortgage industry. He examines the increasing competition in the servicers market, the growing presence of investors in the market, the impact of technology, and the effect of the COVID-19 pandemic. By understanding the current trends in the mortgage industry, lenders and borrowers alike have an opportunity to make informed decisions that can help them succeed in a constantly fluctuating environment.
The mortgage industry is always evolving, which can make it difficult to keep up with the latest trends. In this article, Rob Chrisman takes a closer look at what is happening in the mortgage business. He examines current developments in the mortgage servicing market, investor participation, the role of technology, and the effects of the COVID-19 pandemic on the industry.
The mortgage servicing market is becoming increasingly competitive, with more small banks entering the fray. Servicers must stay efficient if they want to remain competitive, as customer service is essential. Additionally, investors have been gradually re-entering the market, though they are buying fewer loans but paying higher prices.
Technology has also had a major impact on the mortgage industry. Automation has streamlined and improved many processes, while AI-powered software is allowing lenders to gain greater insights into their customers and personalize the loan process.
The COVID-19 pandemic has had a wide ranging effect on the mortgage industry. Originations dropped significantly early in the pandemic, though the market seems to be picking up again. Remote working has been made possible thanks to the pandemic, allowing mortgage brokers and lenders to work from home.
By understanding the current trends in the mortgage industry, lenders and borrowers alike can make more informed decisions that can put them in a better position to succeed in a rapidly changing business climate.
This article was contributed on Dec 22, 2023
