"We wanted to help a larger swath of borrowers attain the American dream"
Cuts were necessary to keep its mortgage product competitive, the company said
Recent stats point to an improving housing market across the country, but one leading player believes that could be negatively impacted if rates are raised too soon.
Commissions may not be the highest in these regions, and with suspect job growth expected, originators in these cities may continue to struggle to earn their commissions.
A recent national survey shows that while almost two-thirds of millennials feel they don’t have enough for the typical down payment for a home, more than half plan to be homeowners within two years.
New home mortgage applications down… Super-jumbo mortgages increase… No rentals in Manhattan… Maryland housing market strong in May…
Despite three major banks ratcheting down on their mortgage servicing portfolios, two others have stepped in to fill the void, according to recently released statistics on mortgage market share.
It’s a trend that seems negative at first, but originators should welcome a forecast calling for a shift toward smaller, more affordable homes.