Posted To: Pipeline Press
As the industry digests Fannie Mae’s earnings announcement this morning with its $7.2 billion of net earnings in the second quarter of 2021, did you know that 79 percent of residential mortgage loans closed with the company that first took the application? As a lender, how are you capitalizing on that? Or, as the CFPB also tells us, “The percent of survey respondents who reported applying for a mortgage through a mortgage broker increased from 2018 to 2019 (from 42 to 46 percent for home purchase mortgages and 30 to 38 percent for refinances). On the other hand, the percent of survey respondents who applied directly through a bank or credit union decreased from 2018 to 2019 (from 54 to 49 for home purchase mortgages and 67 to 61 for refinances).” Yes, the CFPB and FHFA released…(read more)
Source: Mortgage News Daily
