General World News

What about mortgage application fallout rates?

As lender concerns about margin compression rise, why aren’t we seeking to better understand our mortgage application fallout rates to increase revenue?

For mortgage originators of all sizes, “fallout” is a word that induces headaches and nausea at roughly the same level as terms like “repurchase demand” or “regulatory audit.” We don’t often talk about it, but it’s a fact of mortgage lending. Far too many loan applications never make it to closing, falling out of a lender’s pipeline even after rate lock. And far too often, the response is a shrug of the shoulders and back to work finding new details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com