More Banks Selling Residential Mortgages
More community banks are selling their residential mortgages to the secondary market. A survey
* The use of automated underwriting at banks continues to grow: 52% of respondents used automated systems in
* 63% use an automated home mortgage loan origination system, up just 1% from one year earlier.
* 10% of community banks' customers were first-time homebuyers, and 64% required or recommended education
* 30% said they expect to sell more of their loan production to the secondary market in 2003, while 43% expect no