Takeaways from the MBA National Secondary Conference

I love going to New York. DC may be the capital of America, but New York is its heart. Some random takeaways from this year’s MBA National Secondary Market Conference …

• Everyone is B-U-S-Y, moreso than ever. Business is brisk, and companies are trying to figure out if they should invest in technology or growth. It’s more costly to originate loans than ever before, which has lenders more focused on scale and efficiency than ever before.
  
  
• Big banks continue to shy away from the mortgage business. Love him or hate him, Chase CEO Jamie Dimon’s recent comments represent the big banks current mindset on mortgages. 
  
  
• While big banks will continue to pull back from govie lending, they are being more aggressive than ever on jumbos through their retail platforms. Non-bank lenders continue to pine for more competitive jumbo offerings.
  
  
• If you’re holding your breath waiting for GSE reform, it’s OK to exhale. ;-)
  
  
• Non-banks are getting much more active in their pursuit of servicing rights, both organically, and through acquisition as a growth strategy.
  
  
• The warehouse lending space is more crowded than ever, with warehouse lenders trying to figure out ways to differentiate themselves.
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• Get ready for a lot of merger and acquisition in the mortgage industry. Banks, IMB’s, MI, and technology companies. It’s coming.