Magazine article Mortgage Banking

Is This Normal?

Magazine article Mortgage Banking

Is This Normal?

Article excerpt

IT HAPPENS EVERY CYCLE. THOSE INTEREST RATES ARE AT IT AGAIN. MOVING UP SLOWLY BUT surely, as the Federal Reserve decides it's time for its proverbial preemptive strike. From boom to--not quite bust--more like what's supposed to pass for normal. That's today's mortgage origination market.

It puts tremendous pressure on origination firms of all kinds to right-size for the moment. The odd part is, there's still plenty of demand for houses, condos, apartments, office buildings, industrial warehouse facilities and solidly anchored retail. The economy is still so very healthy in so many markets across the country. But that old affordability whammy starts to block access to borrowers as interest rates inch their way up--and rising property prices add to the burden.

In this issue we look at top originators who have perfected the art of creating loans--no matter the cycle. We profile a motley group of professionals who tell different stories of how they find mortgage business and make it happen. Each has paved a unique path--some use an incredibly creative mix of marketing and others eschew marketing altogether and rely solely on referrals. Some rely on courting Realtors and saving those impossible deals for despairing real estate agents. …

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