Mortgage President Sees ‘Winter of Death’ When Refi Boom Ends

Mortgage Professional America, Feb. 16, 2021–David Kitai
“Many of these companies have refinanced the same borrower four and five times over the last 18 to 24 months,” said CIVIC President Bill Tessar. “When you take away that churning opportunity and force the companies to compete in the purchase market where just a handful of them can establish themselves as leaders, that ‘winter of death’ idea, that’s going to happen.”