Late last week, I talked to one mortgage analyst who said some firms he’s looked at earned more money in the first quarter than they did all of last year. That’s great news for the mortgage industry, but of course this one anecdote does not apply to all. The naysayers believe loan production will decline this year, maybe by 20%, but the way things are looking 2012 may equal last year’s total of $1.4 trillion, or fall just shy at $1.3 trillion. (Figures courtesy of National Mortgage News and the Quarterly Data Report.) The two biggest factors adding to this renewed optimism center around improved employment numbers, increased foot traffic by homebuyers, and improving application volumes from HARP 2.0. Just think of what might happen if Treasury and FHFA launch a HARP 3.0 program.
