Lending Has Fundamentally Changed
Fundamental change in the housing and lending market has created the greatest opportunity to capture purchase business in a generation. The now well-documented and well-understood rise, peak, and crash of the home mortgage market, and the related crash of home prices, has brought fundamental change to the home lending industry. New regulations and technology advances have changed the way loans are and will be made in the future, who will originate them, and who will fund them.
Historically low interest rates have made mortgage refinancing the first phase of mortgage origination recovery. Depressed home values and tougher lending standards mean this refinance cycle is rapidly closing, however. At this point, most everyone who can refinance has done so. But these same conditions set the table for home purchases and financing to very soon eclipse the refinancing market. Smart lenders see the seismic shift from refinancing to purchases coming, and are preparing now to seize the purchase lending opportunity. At the same time, technology advances are automating more steps in the loan process, eliminating opportunities for human error in underwriting and processing, and paving the way for new methods to cultivate origination business.
Who Will Benefit?
Which lenders will benefit from our technology and marketing? If you are a lender who sees and wants to embrace the coming shift to purchase lending, or you already have and you want to supercharge your growth, Victory Mortgage Careers and, our sister company, RealTech have the technology, the marketing know-how, and the professional staff to guide you every step of the way. From recruiting purchase-minded branches and loan officers, to training them on attracting Realtors® as repeat referral sources, to supporting your growing origination platform with underwriters, funders, closers and other support staff, to providing qualified borrower leads, we have the technology and resources to ensure you capitalize on the coming wave of purchase business.