There are still a few weeks left before the books close on 2018, and there are still a few notable things happening in the mortgage industry. Mat Ishbia, UWM’s President and CEO, explains his take on these before everyone puts their feet up and rings in the new year.
- Conforming loan limits increase
As what’s come to be expected this time of year, conforming loan limits have increased across the country. This means that more loans fit into the conforming loan box, and there isn’t as need for as many jumbo loans.
As Darwin discovered, only the fittest survive, and that holds true in the mortgage industry. People are being laid off if companies refuse to adopt the changes that are required to do business effectively in this new marketplace. Now is the time to recruit and take advantage of the opportunities that exist for those who want to change.
- Freddie Mac’s guideline enhancements
No surprises there. Watch as the retail lenders and lenders with large margins get squeezed. Stay up to date on technology and be ready to capitalize on human-abled technology to help business grow.
See Ishbia discuss these points here.