With housing affordability at an all-time low, many would-be homebuyers are struggling to participate in today’s market. Adding a down payment assistance program to your mortgage lending toolkit could help open the doors to homeownership for your customers.
With housing affordability at an all-time low, many would-be homebuyers are struggling to participate in today’s market. Adding a down payment assistance program to your mortgage lending toolkit could help open the doors to homeownership for your customers.
With increased competition from FinTechs, big tech and megabanks expected over the next decade, how can community-focused financial institutions remain competitive? Offering borrowers a digital mortgage experience rooted in local service and values can be a key differentiator.
With increased competition from FinTechs, big tech and megabanks expected over the next decade, how can community-focused financial institutions remain competitive? Offering borrowers a digital mortgage experience rooted in local service and values can be a key differentiator.
Digital transformation was on the program and on the minds of the attendees at the American Bankers Association Conference for Community Bankers in San Diego this week. I moderated a panel featuring Bryan Luke, President and Chief Operating Officer of Hawaii National Bank, and two of my colleagues, Ken Janik and Colgate Selden.
Digital transformation was on the program and on the minds of the attendees at the American Bankers Association Conference for Community Bankers in San Diego this week. I moderated a panel featuring Bryan Luke, President and Chief Operating Officer of Hawaii National Bank, and two of my colleagues, Ken Janik and Colgate Selden.
Even in the best of times, mortgages can be challenging for community lenders. Fannie Mae reduced its 2019 volume estimate, and the 2020 outlook isn’t much better. Average origination costs have hit a new high – $10,200 according to research by the Mortgage Bankers Association and Stratmor – squeezing margins even more.
Even in the best of times, mortgages can be challenging for community lenders. Fannie Mae reduced its 2019 volume estimate, and the 2020 outlook isn’t much better. Average origination costs have hit a new high – $10,200 according to research by the Mortgage Bankers Association and Stratmor – squeezing margins even more.
Mortgage origination costs keep climbing, reaching a record $9,299 per loan in the first quarter of 2019, according to the Mortgage Bankers Association. This upswing has been fueled by rising compensation, benefits, technology and compliance costs, putting pressure on margins and leaving originators in a tight spot.
Mortgage origination costs keep climbing, reaching a record $9,299 per loan in the first quarter of 2019, according to the Mortgage Bankers Association. This upswing has been fueled by rising compensation, benefits, technology and compliance costs, putting pressure on margins and leaving originators in a tight spot.
