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Lenders One(R) Survey Finds Millennials, Hispanics and Boomerang Buyers Are Expected to Drive Up the Real Estate Market
ST. LOUIS, MO --(Marketwired - March 02, 2016) - According to the new Lenders One® Mortgage Barometer, a survey of 200 mortgage lending professionals, nearly two in three mortgage lending professionals (62 percent) expect mortgage purchase production to increase, with an overall average anticipated increase of 11 percent in 2016. Also, 87 percent believe the mortgage purchase market will be somewhat to extremely active.
Mortgage lenders' leading strategies for growth are new marketing tactics to reach new demographics (60 percent), followed by offering new products (42 percent), hiring sales staff (40 percent) and regional expansion (36 percent).
Mortgage Lenders Identify Diverse Growth Opportunities
Lenders highlighted specific groups that will present the best growth opportunities this year:
"The strong confidence levels we're seeing among lenders highlight the continued bounce back from one of the most challenging real estate and lending environments in U.S. history," said Daniel T. Goldman, Interim Chief Executive Officer, Lenders One. "In an environment where lenders can once again focus on business growth initiatives, it will be more important than ever for mortgage professionals to have access to the tools and ongoing training they need to capitalize on these emerging trends."
The Lenders One Mortgage Barometer was conducted online among a random sample of 200 mortgage lenders. Fieldwork was conducted by independent research firm Market Intel Group between January 4, 2016 and January 14, 2016. The margin of error associated with the sample of n=200 is +/- 6.9 percent at a 95 percent confidence level.
About Lenders One® Mortgage Cooperative
Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated $200 billion in mortgages in 2014; collectively ranking as one of the largest retail mortgage origination entities in the U.S., Lenders One is managed by a subsidiary of Altisource Portfolio Solutions, S.A.
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource's proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.
Michelle D. Esterman
Chief Financial Officer
+352 2469 7950
Meredith A. Duhaime
Senior Associate, External Communications