As a technologist or tech-minded executive, do you feel like you have a voice in the mortgage industry? No? Then it’s time to fix that. The mortgage industry itself is going through a lot of change. Lenders are going to be forced to literally reinvent themselves going forward to remain solvent, but change isn’t always bad. We at PROGRESS in Lending Association believe that business process re-thinking and optimization can make all the difference. This association is about educating mortgage participants about how to face real business problems and overcome those business problems through technology innovation.
Your voice can make all the difference in supporting mortgage participants facing the tough challenges ahead. What challenges you might ask?
According to the MBA, overall in 2019, total mortgage originations are forecasted to decrease to $1.63 trillion from $1.64 trillion this year. In 2020, MBA is forecasting purchase originations of $1.27 trillion, and refinance originations of $410 billion, for a total of $1.68 trillion.
“The unemployment rate is at its lowest level in almost 50 years, resulting in faster wage growth and more confident homebuyers. While the Federal Reserve is expected to increase short-term rates further, 30-year mortgage rates should rise only modestly from here,” said Mike Fratantoni, MBA chief economist and senior vice president for research and industry technology. “We are seeing some deceleration in the rate of home price growth, but believe this is a healthy pause for the market, as it will allow income growth to catch up to the recent run-up in home values.”
We at PROGRESS in Lending Association believe in the ability to solve these and other issues the mortgage industry faces by combining sound business strategy and technology. That’s why we are dedicated to giving technologists and tech-minded executives a voice. We hope you’ll be a part of this cause and help reinvent mortgage lending for the better. Contact our chairman Tony Garritano at firstname.lastname@example.org to find out how you can support PROGRESS in Lending Association.