Several banks are gearing up to do a whole lot more mortgage lending in the future.  Even though new homes sales were at a historical low in May and the housing market in general is in the doldrums, these banks are hiring hundreds of loan originators, getting ready for what they believe will be a significant pick-up in lending.  JPMorgan Chase, one of the nation's largest lenders, is in the midst of hiring 1,200 mortgage officers. Chase and Citizens Bank are also growing mortgage operations.

         
 
Housing experts, however, warn that overall mortgage lending is expected to remain flat, largely due to a decline in refinancing. Loans for home purchases should steadily increase over the next two years to $916 billion, up from an expected $725 billion this year, according to forecasts by the Mortgage Bankers Association. But refinancings should plummet to $474 billion in 2012, down from $717 billion this year.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com