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According to the October Insight & Outlook report released by Freddie Mac earlier this week, 2014 was one of the best years for nonbank mortgage lenders. Freddie Mac affirms that it has reached an all-time high in 20 years, meaning that there is a lot of hope for small nonbank mortgage lenders in the housing economy.
Independent mortgage firms have not been doing well since the Great Recession. It is only in the past few years that they have started making a comeback and with this report from Freddie Mac, we can hope that there is a better future ahead for nonbank mortgage firms.
According to Freddie Mac, nonbank mortgage companies are popular because of their accessibility and the range of loans offered; they have made a name for themselves by simply offering more attractive packages than the big lenders. This means that the chances of finding an affordable loan might be higher with a nonbank mortgage company.
Apart from the nonbank mortgage lenders, there are also the small internet lenders who might be more attractive to the tech-savvy generation. With that being said, NAWRB thinks that if you own a small- or large-scale mortgage company, this might be the right time to consider giving yourself a little shove and get going.
Gather ideas for boosting your brand, design an attractive website and spread the word about your attractive offers. There might be someone in your community who is waiting for a company like yours to open its doors to the world.