22 FEB 2022, 2:00 PM EST
Even with lower supply, real estate agents are seeing higher than normal demand this early in the year. In January, purchase loan application volume rose 2% from week one to two, according to the MBA. Looking into the spring, is your financial institution ready for the uptick?
Consumers want to work with lenders who cover the full range of their home-buying needs. They are looking for online and self-help capabilities as well as faster loan originations. Simultaneously, they need lenders who will handle essential mortgage services, such as ordering appraisals or property titles, which they are less concerned about. Independent lenders picked up 63% of mortgage financing in 2020 for such strengths.