FYI..... John Robbins was published in the Nov 2003 Mortgage Bankers Association newsletter. He had this to say about the shift in the new purchase market from retail loan officers (CFC, WM etc) to mortgage brokers that INV works with:
"The current mortgage market seems anything but traditional. So much about the purchase environment has changed. But from all indications, there is enough opportunity for companies to continue growing. According to the Mortgage Bankers Association (MBA), the residential origination market in 2004 will total $1.5 trillion, making it one of the five largest in history. One characteristic of the new mortgage market is how consumers shop for the best mortgage. While retail loan officers are still important, mortgage brokers now control roughly 65 percent of all originations through a national network of approximately 45,000 brokers� compared with only 8,500 in 1988, according to Columbia, Maryland� based Wholesale Access Mortgage Research and Consulting Inc. It is time to realize that mortgage brokers are more than just go-betweens in the lending process. They are agile entrepreneurs who are adept at working in different market environments. Brokers can be seen as the new �dream makers,� because they take a proactive role in facilitating homeownership. Brokers know their business and have worked hard to win the trust and confidence of America�s homebuyers. Consumers see value in their ability to provide a wide range of products, competitive pricing and quick response."