Compliance, MLO, U/W jobs; processing, disclosure, broker tools; conventional conforming changes; fraud report; refi to purchase shift
The mortgage talk here in Cleveland is how, “Tough times never last but tough people do.” Many estimates have residential production hitting $4.8 trillion in 2021, so is there anyone left to refinance? Of course there is, and in many conversations with lenders, rate & term refis have been replaced by cash out. Black Knight, a mortgage technology and data provider, says there are still 3.8 million people who would benefit from refinancing (30-year fixed-rate mortgage holder with a maximum 80% loan-to-value ratio, a credit score of 720 or more, and a likelihood of reduc...
Source: mortgagenewsdaily.com