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Refi Bust Has a Dark Side.
With interest rates expected to rise next year (bearing in mind that this was the consensus expectation at the end of 2001 and 2002 as well), servicing managers are pleased to anticipate that portfolio churning and writedowns may be coming to an end.
But rising rates can also cause a few problems for the lending industry. And some of the challenges that will hit the loan production side of the business may trickle down into the servicing shop.
With refinancing likely to taper off, a casualty of burnout if nothing else, an increasing number of lenders are thinking about expanding into nontraditional products.
Home equity lines of credit, alternative-A loans, B&C credit quality loans, adjustable-rate products and hybrid loans are among the items that are looking to play a larger role in the origination arsenal.
So what does that mean for servicers? For one thing, it means they may have to learn how to administer some new product types. Many of the lenders that are considering expansion into nontraditional products are conventional, conforming loan specialists. That means the channels that feed loans into your servicing shop may be serving you some unfamiliar ...
- Regulators issue final guidance on nontraditional products.(Briefing...
- Magazine article from: Mortgage Banking November 1, 2006 700+ words
...choice. The Mortgage Bankers Association (MBA) has criticized...more lenders to get into nontraditional products because the regulations...an outline on how to do nontraditional products." MBA is also in the...
- Competition Forces Banks to Offer Nontraditional Products.
- Newspaper article from: Knight Ridder/Tribune Business News Vanac, Mary October 19, 1998 700+ words
...The bank didn't offer such nontraditional products then. Erdos and his business...business owners who don't, such nontraditional products may be one of the few ways they...lending market, banks are offering nontraditional products and making loans to borrowers...
- Brokers: Customers often in the Dark: More than half of the brokers surveyed...
- Magazine article from: National Mortgage News Finkelstein, Brad June 26, 2006 700+ words
...growing products. Mr. LaMalfa said the growth in the nontraditional products in many respects is a result of affordability issues...than half of the respondents plan to offer more of the nontraditional products in 2006 then they did in 2005, with 11% say fewer...
- Regulators issue guidance on nontraditional products.(regulations)
- Magazine article from: Mortgage Banking February 1, 2006 700+ words
...nontraditional mortgage loans exist in other adjustable-rate mortgage products, but our concern is elevated with nontraditional products due to the lack of principal amortization and potential accumulation of negative amortization," the joint...
- Selling Nontraditional Products Often Means Educating Customers.(Originated...
- News wire article from: Knight Ridder/Tribune Business News Purcell, John Minor November 17, 1997 700+ words
Nov. 16--Diners at the Blue Nile Cafe eat with their fingers. The Blue Nile serves authentic Ethiopian food, and Ethiopians traditionally eat with their hands. At the Blue Nile, food is served buffet style. Each diner chooses an injera, a crepe-like bread rolled burrito-style. For the less
- Mortgage Bankers Association Schedules Other Events.
- Magazine article from: National Mortgage News October 3, 2007 700+ words
...information on these events, visit the section on the Mortgage Bankers Association's website dedicated to conference listings. This can...update on issues such as fraud prevention, evolution of nontraditional products, reverse mortgages, technology improvements for underwriting...
- Where to go for retirement planning?(American Bankers Association Consumer...
- Magazine article from: ABA Banking Journal November 1, 1997 700+ words
...lucrative. While two other charts on this page have shown customers to be less inclined to look to banks for nontraditional products, when it comes to offering retirement planning advice, none of the major financial services players has an...
- NORTH CAROLINA BANKERS ASSOCIATION BOARD VOTES TO TABLE MERGER TALKS WITH...
- Press release article from: PR Newswire February 23, 1996 700+ words
...Directors of the North Carolina Bankers Association voted to terminate merger discussions with the Community Bankers Association of North Carolina. Negotiations...months. The North Carolina Bankers Association represents 52 commercial...
- Maryland Bankers Association Endorses Bankers Investments Group; Unique...
- Press release article from: PR Newswire March 17, 2005 700+ words
...PRNewswire/ -- The Maryland Bankers Association has endorsed Bankers Investments...organization formed by the Virginia Bankers Association, to provide brokerage services...profit subsidiary of the Maryland Bankers Association, marks the first time Bankers Investments...
- Alabama Bankers Association Expands Endorsement With Wolters Kluwer Financial...
- Press release article from: PR Newswire September 27, 2007 700+ words
...Financial Services and the Alabama Bankers Association announced today the association...executive officer of the Alabama Bankers Association. "By offering ComplianceOne...the opportunity to provide Alabama Bankers Association members with access to our industry...
Source: HighBeam Research, Refi Bust Has a Dark Side.