The mortgage-lending industry is facing a double-whammy: Competition has intensified, and America's appetite for home-buying has disappeared.
The line chart lays out the other side of the mortgage-lending double-whammy: The spreads lenders are earning from mortgages are declining at the same time that costs to produce mortgages are increasing.
"This has pressured spreads and margins while the cost to originate loans continues to increase as the industry absorbs the impact of new regulations," Weinbach said in his presentation. Weinbach blames regulations for increasing costs, and while additional compliance costs play a role, the that other expenses — commissions, compensation, technology, and equipment — have been on the rise as well.
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