Independent Mortgage Banks

Ginnie Mae, Fannie Mae and Freddie Mac exec’s all applauded the efforts of independent mortgage banks, like Frost Mortgage, at their recent annual meeting, for stepping up since the mortgage melt down and originating government sponsored mortgage products.  While commercial banks were backing away from the residential mortgage business, independent mortgage bankers were increasing market share and becoming the premier residential mortgage resource to the consumer.

Independent mortgage banks now have a 50% share of Ginnie’s business, up from 14% in 2010, a 40% share of Fannie’s business and a 33% share of Freddie’s.

Once upon a time there was a Savings & Loan industry in this country that, in the early 80’s, enjoyed even higher percentages of Ginnie and GSE business…that is before they were legislated out of business by federal regulators pandering to the agenda of commercial bankers.

Beware of the “too big to fail banks” who may soon decide that they want back into the residential mortgage lending business, once we independent mortgage bankers show them, once again, how to profitably originate well underwritten home loans that perform.  Don’t you just long for a return to the 60 day loan processing & underwriting cycles that several of the “bigs” offered just a few short years ago?

We independent mortgage bankers need to fund our lobbyists and keep our faces in our legislators’s offices on capitol hill to insure that our industry doesn't get blindsided once again.