Mortgage Lending Showing Signs Of Robust Growth
Amid all the regulatory upheaval and economic uncertainty of recent months, the mortgage industry is showing signs of substantial growth, according to various reports.
The Mortgage Bankers Association’s latest financial forecast estimates that the nation’s lenders originated $734 billion in mortgages in the first six months of 2012. That’s a 24-percent increase over the same period last year.
Among the brightest spots in the mortgage industry are America’s 7,165 credit unions, which originated a record $157 billion in mortgages in the first half of the year — 29 percent more than the same period in 2011 and almost 9 percent above the previous record of $144.3 billion set in 2009.
Financial institutions will be closely watching the housing market during the remainder of the year and the first half of 2013. If an upward trend continues, new employment opportunities may soon open up in the mortgage and real estate industries.