Marianne Kozak (pictured top), EVP, national wholesale/non-del sales at LoanStream Mortgage, told Mortgage Professional America that optimism appeared to be on the rise among the US lending and broker communities ahead of 2025. “I think for the first time in a couple of years, mortgage lenders and mortgage people are really excited about what’s going to happen,” she said.
“And it’s interesting because we don’t really know, but I think we all have this general consensus that, ‘Look, we’ve gotten through the last two years and it’s been a struggle for many companies.’ We’ve seen many large companies just completely get out and bow out of the space, but I’m seeing more and more brokers that are going off on their own and starting their own companies again. There was a flight to banks or larger companies a couple of years ago – now you’re seeing that trend change.”
That conviction is borne out of a belief among many brokers that they’ll be able to drive enough business to survive and thrive in the coming market, she said, a positivity that’s also reflected elsewhere in the industry. “And I can’t say that that’s been what we thought for the last couple of years,” she said.
Jamie Cavanaugh, president of Amerifund Home Loans, sees a positive refinancing outlook for veterans with decreasing rates, notes first-time homebuyers are increasingly using downpayment assistance and family support due to affordability challenges.https://t.co/PSkc6xzWOb
— Mortgage Professional America Magazine (@MPAMagazineUS) October 25, 2024
How long will it take for things to pick up again?
The slower market seen since 2022 – coupled with wider economic uncertainty – meant many companies in the mortgage space doubled down on what they needed to do to make it through that instability. Now, though, hopes are building that another bumper market is on the way, according to Kozak.