First-time homebuyers are lining up
to transform the mortgage industry
The mortgage origination market is in the middle of a dramatic transition in customer mix.
This transition is driven by two powerful forces — pent-up demand accumulated over
the past 10 years and the influx of a large group of new homebuyers.
This transition has already sent the pendulum swinging back toward a market domnated
by first-time homebuyers, a trend that will continue for years to come. This transformation will change the product mix in the mortgage origination market from high- to
low-downpayment products and present an opportunity for originators to establish
lifelong relatioships with a new generation of borrowers. > > >
By Tian Liu
Genworth Mortgage Insurance Corp.
Photo illustration by Paula Douglass