openPR Logo
Press release

Total Mortgage Identifies Key Trends In The Mortgage Marketplace In 2011

Total Mortgage Identifies Key Trends In The Mortgage

MILFORD, CONNECTICUT - (January 11, 2011), Total Mortgage Services, LLC, a leading national mortgage lender featuring some of the lowest mortgage rates available, today highlighted five key trends likely to impact the mortgage industry and housing market in 2011.

“The mortgage and housing markets continue to be impacted by the housing crisis, which has fundamentally and permanently altered these businesses,” commented John Walsh, President of Total Mortgage Services. “In 2011, we expect the mortgage and housing markets to continue to undergo rapid changes. However, those who are able to rise to these challenges and opportunities will be able to survive and prosper in the new year.”

2011 Mortgage Industry Trends

• Quality mortgage brokers will survive and remain relevant: Mortgage brokers, who are committed to extensive product knowledge, ethical behavior, and the highest levels of customer service, provide significant value to borrowers throughout the mortgage process. Without the mortgage broker, competition amongst lenders will diminish. Mortgage brokers have the ability to shop for the best rates and products at a variety of mortgage lenders. This allows individual borrowers to obtain access to a wide array of products and rates. It also creates competition between lenders that benefits borrowers through lower rates and better products. The many benefits that brokers provide to borrowers help to ensure their continued relevance in the competitive mortgage industry.

• Appraisal issues will continue to negatively impact property values and the mortgage/housing market: It has become much more difficult for those attempting to sell or refinance a home to get an appraised value that allows them to qualify for a mortgage. This development is impacting borrowers’ abilities to purchase or refinance homes, and is slowing the stabilization of the housing market. The problem stems from a lack of comparable home sales due to the slowing real estate market, as well as a significant increase in the number of distressed properties selling at a sharp discount. This is an extremely important situation to monitor, especially in light of the large shadow inventory that are expected to hit the market over the next few years and the large number of foreclosures that were pushed into 2011 due to the robo-signing scandal.

• The rigorous licensing process could create a shortage of loan officers and increase demand for quality loan officers with experience and transferable relationships: Following the collapse of the housing bubble, new regulations were enacted to ensure loan originators met certain minimum educational standards. The Secure and Fair Enforcement Mortgage Licensing Act (SAFE Act) imposes costly and extensive educational and testing requirements on loan officers. These requirements create a significant barrier to entry for those who wish to become loan originators. As a result, there could be a shortage of experienced, licensed loan originators. Those who are licensed and have transferable skills and relationships will find themselves in high demand in 2011.

• Private investors will continue to be reluctant to invest in the jumbo mortgage market: The economics of jumbo securitization and new capital reserve requirements makes issuing jumbo mortgage backed securities a risky proposition. Many of the lenders who are funding jumbo loans are portfolio investors, and very few lenders have the capital and wherewithal to hold portfolio jumbo loans.

• Borrowers will significantly increase their use of the online mortgage process – from research to closing: A recent Lending Tree survey found that 21% of consumers shop for mortgages online. Only a few years ago, the percentage of potential borrowers that shopped online for a mortgage was negligible. Going forward, one of the driving forces for online mortgage shopping will be younger, first time home buyers, especially as Gen X and Gen Y consumers who have grown up with computers look to become home owners. In addition, as electronic commerce becomes even more commonplace the number of borrowers using the online mortgage process will grow.

Total Mortgage Services, LLC, a provider of some of the lowest mortgage rates, is an industry-leading direct mortgage lender and mortgage broker. The company has funded over $6 billion in mortgage loans since 1997. Total Mortgage was included in the Inc. Magazines' list of America's Fastest Growing companies in 2010 and holds Better Business Bureau “A” ranking since 1997. Licensed in 21 states, Total Mortgage offers a variety of products and programs including fixed-rate loans, adjustable-rate mortgage loans (ARMs), jumbo loans, FHA mortgages and more. In 2010, Total Mortgage launched its wholesale lending platform TMS Funding. Visit TotalMortgage.com for current mortgage rates, FHA mortgage rates, jumbo mortgage rates, ARM rates as well as other mortgage rates. For more information on Total Mortgage, please visit http://www.totalmortgage.com.

Total Mortgage Services, LLC
326 W Main st.
Milford, CT 06460
203-876-2200

Media Contact:
John Lovallo
Lovallo Communications Group
Telephone: 203-526-6371
Email: john.lovallo@lovallocommunications.com
Or email Total Mortgage directly at press@totalmortgage.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Total Mortgage Identifies Key Trends In The Mortgage Marketplace In 2011 here

News-ID: 158142 • Views:

More Releases for Services

Managed Services by Ensure Services
Ensure Services is a leading managed services provider offering comprehensive IT support and solutions designed to streamline operations, improve efficiency, and reduce operational costs for businesses of all sizes. Our managed services are tailored to meet the unique needs of your organization, ensuring you can focus on your core business while we handle your IT infrastructure. With years of experience and a team of certified professionals, we deliver proactive monitoring, ongoing
Electrical Services Market Next Big Thing | Major Giants SSI Electrical Services …
A new business intelligence report released by AMA with title "Electrical Services Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Electrical Services Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and
North & South America Commercial Services Market 2022 (Employment Services, Offi …
The Business Research Company’s Commercial Services Global Market Report 2019 covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. Ratios of market size and growth to related markets, GDP proportions, and expenditure per capita for the market is detailed in the report. Data and analysis throughout the
AC Services & Repair, Refrigerator Services & Repair, Washing Machine Services & …
Kunal Repair & Services is growing on-demand home services platform in India and we are currently operating in Gurgaon. We offer an array of services which include AC Services & Repair, Refrigerator Services & Repair, Washing Machine Services & Repair, R.O Services & Repair, Microwave Services & Repair, Geyser Services & Repair. Our operating philosophy for solving this massive problem is - Right price. To know why we do what we
Electrical Services Market Technology and Outlook 2023 Top Companies are Allianc …
A report added to the rich database of Qurate Business Intelligence, titled “Global Electrical Services Market Size, Status and Forecast 2023”, provides a 360-degree overview of the worldwide market. Approximations associated with the market values over the forecast period are based on empirical research and data collected through both primary and secondary sources. The authentic processes followed to exhibit various aspects of the market makes the data reliable in context
Electrical Services Market Size 2018: Alliance Electrical Services, Housejoy, Te …
In 2017, the global Electrical Services market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025. This report focuses on the global Electrical Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electrical Services development in United States, Europe and China. Get Sample Copy of this report @ http://www.orbisresearch.com/contacts/request-sample/2311492