Residential

2018 Origination Outlook: Expect more non-QM lending to replace lost refis

The first point on many mortgage originators’ 2018 agendas will be looking for new sources to feed their lending machines and replace the continued drop-off in refinance activity.

“We have seen a pick up in the purchase market, but I feel like lenders have been saying that for the eight years,” said Andrew Weinberg, the president of Silver Fin Capital, a mortgage broker located in Great Neck, N.Y. “While you can try to anticipate when purchases are coming, for us as a mortgage broker, I don’t think you can rely on just purchase business to make up for what’s been lost in the refi business because of higher rates.”

Read Article at NationalMortgageNews.com

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