- Business Rules
Michael Fratantoni Shares Economic Outlook at #EXP19
We’re back for Day 2 of the General Sessions at #EXP19! The room at Moscone Center West could be heard buzzing with anticipation as an audience of thousands prepared for an incredible lineup of keynote speakers including Simon Sinek (Author, Motivational Speaker, Organizational Consultant) and Michael Fratantoni (Chief Economist, SVP Research & IT, MBA), as well as a panel session featuring our Hall of Fame winners joined by Jordan Brown of MarketWise Advisors.
Continuing the day, Michael Fratantoni entered the stage and shared his thoughts on our 2019 economic outlook. As MBA’s Chief Economist and Senior Vice President of Research and Industry Technology, he’s responsible for overseeing MBA’s industry surveys, benchmarking studies, economic and mortgage origination forecasts, as well as industry technology efforts and policy development research for single-family and commercial and multi-family markets. Additionally, he is the president and member of the Board of Directors of MISMO and serves on the CSP’s Industry Advisory Group and the membership committee of MERS.
During today’s Keynote, Michael shared some compelling metrics and data showing recent trends in the mortgage industry. Based on the data, he predicts a strong job market as wage growth trends higher. People are more confident in their economic and financial situation. In addition, he asserts that mortgage rates are stabilizing this year versus last year, and rates of homeownership are increasing as well. All of this makes for an excellent outlook, especially with the increase in millennial homebuyers coming our way over the next couple of years.
Following Michael Fratantoni, our Ellie Mae Hall of Fame winners joined Cathleen Schreiner Gates (EVP, Sales & Marketing, Ellie Mae) and Jordan Brown (CEO, MarketWise Advisors) on the stage for a panel discussion on the ROI of using Encompass and the impact on cost of origination. To see how our Hall of Fame winners are using Encompass to save $1,182 per loan in origination costs and breaking even at an average of 1.92 months, read our blog.
For more on Michael Fratantoni and the Mortgage Bankers Association, visit www.mba.org.
Stay tuned for the full video of our Wednesday Keynote presentations.