Refi Looking Mighty Fine
March 11, 2020
Last week we told you about Anthony Hsieh, CEO of loanDepot. He was harshing our mellow saying that industry lending capacity wouldn’t equal consumer refi demand.
That’s when the refinance market was expected to be $665 billion for 2020: a pretty healthy amount, no doubt.
Fast forward to this week. That number swells to $1.232 trillion in refis. That’s an 85% jump in 3 weeks, according to new figures from the Mortgage Bankers Association.
It’s almost a 37% jump over 2019.
With predictions like that, maybe it is true. Loan originators should make $1 million a year.
And they won’t even need to be aggressive to do it.