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Rising competition and lower demand for home financing signal tough times ahead for the U.S. mortgage industry, according to Fannie Mae.
Despite slowly withdrawing from the mortgage market, America’s top-five banks saw their share of total originations rise in the first quarter.
After a rocky start to Q2, home sales bounced back in May as property values surged to new record highs.
Faced with stagnating loan volumes and growing competition from non-bank lenders, the U.S. mortgage industry is struggling to expand its footprint. Although banks have largely sat out the surge in M&A activity of the last few years, consolidation is increasingly viewed as the golden ticket to future growth in an industry facing higher capital requirements and rising costs.
Home prices are climbing more than twice as fast as earnings, making the American Dream of homeownership out of reach for many first-time buyers.
Home sales fell in April, although the underlying trend continued to show favorable growth fueled by more plentiful jobs and pent-up demand.
On Aug. 31, publicly-traded real estate companies graduated out of the financial services sector into a sector of their own. How has the newest S&P 500 sector performed? The short answer is not so well.
Fannie Mae and Freddie Mac should be privately-owned utilities with returns to shareholders stipulated by regulators, according to proposals put forward by the Mortgage Bankers Association.
Two separate but parallel top-level reviews of mortgage-related regulations may yet allow community banks, credit unions and other proponents of “soft” information in loan underwriting to broaden credit access and permit small lenders to regain the competitive advantage they lost to big banks following adoption of the Dodd-Frank Act mandates, but industry observers say it’s a tall order.
Barring any mitigation actions by banks, up to 40% of their revenues could be lost to fintech companies in the not-too-distant future.