The Mortgage Bankers Association on Monday lowered forecasts again for originations – for both this year and next, and for purchases and refinancings.
Bob Broeksmit, the MBA's president/CEO, told lenders Monday that the mortgage boom of the last two years is over, and now lenders need to be ready to handle smaller volumes.
"After the stratospheric heights of 2020 and 2021, the market is coming back down to earth," Broeksmit said in prepared remarks for those attending the MBA's 2022 Secondary & Capital Markets Conference & Expo in New York.
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