Three Trends Reshaping The US Mortgage Broker Industry
Demand for a Mortgage Broker has soared in the United States, both to a boom in home purchases during the COVID-19 pandemic and low-interest rates that have made refinancing attractive over the last two years. Even if interest rates rise, banks, non-bank lenders, and mortgage sector investors are likely to continue to enjoy solid demand from the buying market. According to a recent analysis from the Mortgage Bankers Association, the sector is predicted to originate more than $2.5 trillion over the next three years, a figure that is at least 40% more than the average annual originations between 2010 and 2019. Meanwhile, the mortgage sector has been increasingly implementing technology to improve the front-to-back process of obtaining the best home loans, to improve the overall customer experience. Investors can assist in improving the loan origination, processing, underwriting, and service processes, as well as increasing consumer access to home-financing and home-buying services...