US lender market faces fresh threat, mortgage veteran warns
“Banks seem to be panicking about the direction of mortgage rates and prophylactically raising rates, even if they don’t have to, just to get out of the fray,” she said.
“We’re going back to a period like in 2022, when rates went up precipitously, and we saw some lenders going out of the market.”
Brian Mozley, Chief Growth Officer at Choice Mortgage Group, previously told Mortgage Professional America that rising economic uncertainty had made the environment harder for buyers and brokers on both sides of the deal.
“There’s a lot of uncertainty in the market today, and what really benefits us is having more control over the process — through technology, people, and effective communication — to make things smoother for the buyer,” Mozley said.
For brokers, fewer active lenders mean less product variety, diminished pricing competition, and less room to find creative solutions for clients.
