In a mortgage industry that has spent a lot of time looking back at the turbulence, tumult and tension of a few short years ago, it is refreshing to see industry professionals focusing on the future with a renewed sense of optimism and resolve.
With 2014 drawing to a close, it is time to look ahead to the next 12 months and examine the ongoing and emerging trends that will shape the industry in the year to come. From regulatory pressures to potential consolidation, and from new players to old principles, 2015 promises to be an eventful and intriguing year for mortgage professionals.
Before vaulting headlong into the new year, it seems prudent to look forward and try to divine what the new year may hold for mortgage originators in several key areas, including regulations, consolidation, emerging trends, rates and real estate.
Increased regulation and subsequent pressures to control production costs will likely continue to be a prominent issue in 2015. A more robust and demanding regulatory framework continues to drive up the cost of mortgage financing for consumers, resulting from the increased cost of compliance — specifically the development of infrastructure to ensure consistent and verifiable compliance.