NASHVILLE, Tenn., Oct. 24, 2022 (GLOBE NEWSWIRE) — Low interest rates and high demand for homes propelled mortgage origination activity during the pandemic, only to slow dramatically in 2022 during an environment of higher home prices and interest rates. A new TransUnion (NYSE: TRU) study, “Where Will Growth in Mortgage Originations Come From?,” found that despite an overall decrease in the number of consumers actively seeking a mortgage, some consumer segments remain positioned as potential opportunities for lenders. The study was released today in conjunction with the Mortgage Bankers Association 2022 Annual Convention in Nashville.

TransUnion’s study analyzed the entire credit-active U.S. population between Q2 2017 and Q1 2022. It flagged consumers who were likely renters or homeowners and further identified consumers as belonging to LMI (Low-to-Moderate Income), Veterans Administration (VA)-eligible, and self-employed, non-exclusive segments. It then highlighted consumers in these segments who either withdrew their applications or were potentially turned down for a mortgage.

To continue reading the rest of the article, please click on the source link below:

https://www.globenewswire.com/news-release/2022/10/24/2539967/0/en/Mortgage-Originations-Slow-But-Purchase-High-Home-Equity-Opportunity-Exist-Within-Key-Consumer-Segments.html