The secondary mortgage market has been a challenge for mortgage industry experts in recent years. At the AIME Fuse 2023 conference in Las Vegas, Doug Duncan, senior vice president and chief economist for the Mortgage Bankers Association (MBA), discussed how the recent turmoil in the market has created opportunities for some lenders while creating problems for others.
Duncan spoke about the importance of understanding how to best position your organization to take advantage of the secondary market in order for success. He discussed the need for lenders to move quickly to assess the risks and rewards of the market and to discover new opportunities. Further, he emphasized the importance of cultivating relationships with buyers and sellers by keeping up-to-date financial data and keeping an eye on product trends in order to build long-term relationships and success.
This summary covers the key points from Duncan’s discussion. It looks at
– the challenges of the secondary market: This has caused both opportunities and difficulties for lenders.
– Understanding the market: It is important for lenders to evaluate the risks and rewards on the market.
– Building relationships: Keeping accurate financial data and being aware of product trends will create successful long-term relationships.
You can read this full article at: https://www.housingwire.com/articles/fannie-maes-chief-economist-we-dont-expect-spreads-to-come-down-anytime-soon/(subscription required)
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