The next phase of regulation stands to be the biggest concern loan originators face in 2013—bigger than interest rate uncertainties, and even big banks’ abilities to attack the purchase market with thin margins.
And even though a majority of mortgage loan originators see their volume staying the same or increasing in the coming year, this regulatory uncertainty poses a major challenge, they report in the results of Hammerhouse’s 3rd Annual Originator Opinion Survey, which gained the opinions of 350 mortgage originators nationwide.
A national recruiting firm with mortgage sales at its core, Hammerhouse’s survey asks originators their opinions on critical issues facing the mortgage industry.
A full half of the survey respondents said they were most worried about upcoming policy changes, with their next biggest concern being the rising interest rate environment, at 18% of responses indicating they are most concerned about rates.
The vast majority of respondents are accustomed to change as more than 80% reported having been in the mortgage industry for at least 10 years.
Uncertainties aside, however, when asked how they believe mortgage originations will fare in 2013, 44% of originators said they expect an increase from 2012 levels, whereas 27% anticipate a decrease from last year’s levels.
Additionally, 28% of originators believe 2013 originations will remain largely unchanged from 2012 levels.
Written by Jason Oliva