Just when improving economic conditions, better savings, and lower mortgage rates was turning the housing market around, the emergence of Covid 19’s Omicron variant, on the throes of a New Year, has cast a cloud on the possibility of a complete turnaround. The mortgage trends for the New Year will largely be determined by the US government’s ability to contain…
Mortgage
The Covid-19 pandemic hit the mortgage industry in many ways, causing finance and opportunity loss for lenders. However, the crisis also induced a sudden spike in the popularity of the reverse mortgage product category. One of the factors that contributed substantially to this phenomenon is the depleting income of people, especially the senior citizens. This has led to an unexpected…
What Led to a Margin Compression? “We conduct an internal meeting once a week to discuss and decide on the best suited loan processing rates and fees that we can afford to offer in a particular week. This aids us to control the loan volume inflow”, quoted by a reputed lender during a virtual meeting in which I was a…