82% of mortgage borrowers are churning

Only 18% of mortgage holders are retained by their servicers when they complete their next purchase or refi, according to Black Knight.

Good afternoon —   According to recent research by Black Knight, only 18% of mortgage holders are retained by their servicers when they complete their next purchase or refi.   In Q4 2020 alone, there were 2.3 million mortgage borrowers who were not retained as customers by their servicers.   Those are staggering statistics. There's a crisis of customer churn in mortgage. This is particularly important as we shift to a purchase market, which many mortgage market forecasters are predicting, including the MBA.   I mean really, who is going to refi out of a 2.67% mortgage?   How do you keep your customers, especially as they shift to purchase? As a first step, many big lenders are holding on to their Mortgage Servicing Rights (MSRs).    HousingWire is hosting a webinar on MSRs next week. I hope you can join!   Diego Sanchez HousingWire General Manager HW Media Chief Operating Officer  John Pataky on how mortgage rates will impact demand    John Pataky joins the HousingWire Daily podcast to talk about the current state of the housing market, focusing on how mortgage rates could impact homebuyer demand in 2021. Listen now HUD settles with JPMorgan over appraisal bias case    HUD has announced a $50,000 settlement between JPMorgan Chase and a Black homeowner who reported racial bias during an appraisal. Partner with the Leader of Today's Non-QM Programs As one of the largest independent Non-QM specialty finance lenders, Acra Lending offers a complete suite of programs designed specifically for Self-Employed, Investor, and Foreign National borrowers. Contact us to find out more! Sponsor Content The purchase market is an opportunity for the title industry    Many of our younger leaders and executives are about to experience their first true, prolonged purchase market. But I'm surprised how many treat this as a threat. There is no doubt that lender success in a purchase cycle requires more effort, more cost and more planning, but there's still amazing opportunity available for firms that execute well. How lenders will benefit from Proctor Financial's acquisition of Loan Protector   HW+ Managing Editor Brena Nath joins Proctor Loan Protector executives Damon Laprade and Mike Dimas to discuss the new Proctor Loan Protector. Presented by Proctor Loan Protector 8 Reasons to Automate Your Secondary Marketing From content to commitment, learn how Black Knight's secondary marketing automation is a recognized path to lower costs, raise quality, reduce risk and sharpen decision-making. Learn More! Sponsor Content HousingWire, 433 East Las Colinas Blvd., Suite 830, Irving, TX 75039, (469) 893-1480 Unsubscribe Manage preferences

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