The first signs of a shifting market cycle are already here. Purchase volume has caught up with, and will likely soon eclipse, refinance volume. And the whispers of margin compression are again being heard across the mortgage industry.
The refinance explosion of 2020 wasn’t going to last forever. But it’s been a while since mortgage lenders had to really focus on being competitive in a more challenging purchase market. Already, the traditional cost-cutting strategies of staff reduction or attrition and the introduction of additional tech and automation to the process are being implemented widely.
Another way to maintain profit margins, details ⇒
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