Posted To: Pipeline Press
As opposed to HomeBridge Financial, which appears to be buying HomeStreet’s origination biz, it is no secret that JPMorgan Chase isn’t an ardent fan of residential mortgage lending. This slide in its investor deck spells out why: competition/shrinking margins, and home buying cooling off. “A tough time to be in the business”? Companies like Zillow know that rates aren’t 16%, we’re not in a depression, and lenders will originate about $1.6 trillion in home loans this year, similar to 2018, helping millions of borrowers. February for me included visiting with folks in St. Louis, San Francisco, Sacramento, Anaheim, Austin, and San Diego. Yes, it’s tougher than a few years ago, but I continue to see optimistic lenders and successful companies in our biz...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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