I am really excited about the resurgence in wholesale that seems to be taking place. Our response to the "Who's left in wholesale" guide really has been just short of overwhelming. From Brokers submitting their suggestions on the various social networking site to lender participation, I feel this feature in the July issue of the National Mortgage Professional Magazine will really be surprised by how many options there are out there in wholesale.
Yes, we all know this business is a lot harder then it used to be. From turnaround in underwriting taking up to 60 days, to HVCC delays and compromising on values, to overly cautious credit standards, this business is a lot harder then it used to be. Sadly, many great people have left this industry due to these tough times. I have heard estimates that Mortgage Brokers went from a nearly 70% marketshare at the peak down to a 20% marketshare. The positive side of that is we flushed out some not-so-great players who really didn't have the passion to help the homeowner.
Please share your comments below on where you feel the wholesale marketplace is headed.
Due to market conditions, prospective sellers likely to experience ‘the least seller-friendly summer since at least 2016,’ report finds
Rather than haggle over prices, some sellers are opting out of the market altogether, according to the latest “Seller Spotlight” from Realtor.com.
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Fannie Mae’s Home Purchase Sentiment Index fell nearly four points in June
Consumer confidence in the housing market dropped in June, according to Fannie Mae’s latest National Housing Survey, with the company’s Home Purchase Sentiment Index (HPSI) falling 3.7 points to 69.8. That marks a 2.8-point drop compared to the same time last year.
Five o...