The top mortgage originators in the country are doing little to capitalize on the ongoing mortgage credit crunch, according to Inside Mortgage Finance Publisher Guy Cecala. Speaking at the 2008 National Settlement Services Summit in Cleveland on Tuesday, Cecala said most lenders are in “survival mode” and not looking to aggressively increase their mortgage business or market share this year.
While he predicted that the credit crunch could start to ease by the end of this year, Cecala said rising energy costs and inflation would likely delay any meaningful mortgage market recovery until 2010. The publisher reported that nearly half of the top 30 mortgage originators have vanished over the past year. Click here for a copy of a PowerPoint presentation of Guy Cecala’s remarks.
