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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Today's Products
Servicing Up A Smaller Menu
One of the most talked about consequences of the current crisis in the mortgage
business is the reduction of the product menu.
Because of the misuse of certain programs, such as no income and stated-income
loans, as well as option adjustable-rate mortgages, investor interest has dried up for those particular items.
And of course, there is virtually no subprime business being done today.
Our Broker Universe online affiliate conducts online trend surveys (not scientific)
in a series of rotating questions that are asked once each quarter. When asked one year ago if they originated
option ARMs, 72% of the respondents said yes. One quarter later it was down to 46% and the most recent time it
was asked, only 12% responded in the affirmative.
So if these products have gone away, what is out there for originators to offer?
The conforming loan market remains strong, but those products aren't for everyone. Many people consider reverse
mortgages to be the largest potential growth market for lending. In this Special Report, read how one company has
ramped up its market share in this product.
While the Federal Housing Administration program has gotten a lot of hype from
the White House and in the media lately, there are other government lending programs available to offer consumers.
Also read about two mortgage broker-friendly programs, the Veterans Administration program and the U.S. Department
of Agriculture Rural Development program.
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