Mortgage bankers are trying to stay optimistic about the coming months but interest rates are rising, applications are down and inflation hasn’t been fully tamed.
Nonbanks, and even some large banks, would like to keep more of the servicing rights they create this year. But if origination profits sputter, all bets could be off.
In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.
There are at least two Canadian banks actively soliciting nonbanks for warehouse lines of credit. The moves come with the hope that originations will improve in 2025.
The new year is underway but not all high-volume producers have signed contract renewals. Some headhunters are advising management not to drag their heels, lest they run the risk of losing their best asset.