If my social feed was any indicator for how the nation is trending, we'd be walking into the next baby boom and sending a lot of housing-warming gifts.
If my social feed was any indicator for how the nation is trending, we'd be walking into the next baby boom and sending a lot of housing-warming gifts. But as more data starts to roll in on how COVID-19 impacted the nation, only the latter of those two things appears to be true. The latest U.S. population numbers made headlines this week for falling to the lowest rate since the nation's founding, right as the Mortgage Bankers Association announced that 2021 purchase originations are expected to climb to $1.61 trillion, a new record from the previous all-time high of $1.51 trillion in 2005.
The takeaway: The future is purchase, but some companies in the lending space are still stuck in the aftermath of a refi hiring spree. Mortgage Reporter Maria Volkova writes in her latest article: "Among half a dozen LOs interviewed by HousingWire, there was a common theme. They expect shops with a consumer direct model, which tend to be refi-heavy and rely on call centers for intake, will be more likely than retail shops to cut employees in the months to come."
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