Mortgage brokers are facing a vastly different landscape than this time last year. In 2020, the refinance boom caused lenders and brokers to go on hiring sprees, and loan originators were putting in substantial hours. Now, as refinance volume slows and we get deeper into homebuying season, purchase originations are dominating brokers’ time, resources and energy.
A recent Mortgage Bankers Association forecast predicted that purchase originations in 2021 will grow 16.4% to a new record of $1.67 trillion. Even with the refi boom cooling, brokers are staying busy.
For many mortgage professionals, this transition from refinance to a high volume of details ⇒
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