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Article: Freddie Mac Is Reaching Out To Small Banks, Official Says.(2001 mortgage market shows unprecedented demand)(Government Activity)(Brief Article)(Statistical Data Included)
- Article from:
- American Banker
- Article date:
- March 28, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Last year was a historic one for the mortgage market.
Records were broken in nearly every category. Originations approached $2 trillion; refinancings hovered for months above 50% of all business; and technology relentlessly cut costs and created opportunities for higher business volumes.
Through all of this, community lenders showed how critical they are to the health and strength of America's housing market.
In 2002 and for years to come, volume will be driven by important long-term shifts in the market, and we believe that community lenders are well positioned to prosper from them.
Today's mortgage market is one of unprecedented ...