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Allied Market Research

Mortgage Brokerage Services Market by Mortgage Broker Type (Tied and Multi-tied), Distribution Model (Online and Offline), and End User (Business and Individuals): Global Opportunity Analysis and Industry Forecast, 2020–2027

A06699
Pages: NA
Oct 2020 | 610 Views
 
Author(s) : NA
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COVID-19

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Mortgage Brokerage Services Market Outlook - 2027

Globally, the mortgage brokerage services market has experienced tremendous growth and is expected to maintain its dominance during the forecast period. A mortgage brokerage serves as an intermediary that connects mortgage buyers & lenders that are best suited to borrower's financial situation and exchange rates in the market. A broker also collects earnings, assets, employment supporting documents, credit reports, and other required details to evaluate the ability of a borrower to secure financing. Moreover, they are also responsible for necessary paperwork from a borrower and forward the same to mortgage lender for underwriting and mortgage approval. Generally, mortgage brokers are regulated to ensure that consumer jurisdiction complies with banking and finance laws.

Market scope and structure analysis:

                    Market size available for years

                                2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($)

  Segments covered

Mortgage Broker Type, Distribution, End User and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa

  Companies covered

Major players analyzed include Housing Development Finance Corporation Limited, Flagstar Bank, United Wholesale Mortgage, LLC, Mortgage Choice Limited, Freedom Mortgage Corporation, The Bank of America Corporation, Wells Fargo & Company, JPMorgan Chase Bank, Caliber Home Loans, Inc., PennyMac Loan Services, LLC

 

COVID-19 Scenario analysis:

  • Owing to non-performance of physical valuations, lenders are unable to introduce new mortgages, thus several lenders executed their high-value (LTV) mortgages in the market. 
  • With brokers concerned about drop in revenue, owing to lack of new business, new borrowing and purchasing was ceased in the market. 
  • Cash and interest rate changes have triggered stress to mortgage holders and borrowers are withdrawing from making additional payments on their mortgage repayments as the pandemic intensifies.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

Growth in preference of individuals to use brokerage services for mortgage lending and increase in awareness toward access to finance services are key drivers in the market. However, several government regulations and fluctuating interest rates hinder the market growth.

Furthermore, increase in demand for brokers in developing countries and implementation of newer technologies in mortgage brokerage software are expected to offer lucrative opportunities for the market.

The global mortgage brokerage services trends are as follows:

Growth in mortgage lending industry in Asia-Pacific:

Developing countries in Asia are more inclined toward mortgage loans for home finance and the demand for mortgage brokers has increased in recent years. Mortgage loan growth in countries such as China, India, and South Korea has raised the growth in demand for convenient lending process. Countries such as Hong Kong faced a strong housing demand and led to significant higher mortgage loan growth rate of 8% in 2017. Similar trends are observed in India, Japan, and Singapore leading to lucrative opportunities for the market.

New technological advancements to flourish the market:

Many mortgage broking firms are adopting new technologies such as artificial intelligence (AI), chatbots, and big data to address their customer needs efficiently. Some brokers use customer service chatbots on websites that could field enquiries, reply frequent questions, and set appointments. For instance, Mojo Mortgages, a Fintech startup, uses chatbots to assist people on Facebook to address their mortgage broking needs in the market. More number of such advancements are expected to drive the market during the forecast period

Key segments covered:

                              Segments

                              Subsegments

  Mortgage Broker Type

 

  • Tied
  • Multi-tied

 

  Distribution Mode

 

  • Online
  • Offline

  End User

 

  • Business
  • Individuals

 

 

Key benefits of the report:

  • This study presents analytical depiction of the global mortgage brokerage services market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global mortgage brokerage services market share. 
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario. 
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market.  

Questions answered in the mortgage brokerage services market research report:

  • Who are the leading market players active in the global mortgage brokerage services market?
  • What would be the detailed impact of COVID-19 on the global mortgage brokerage services market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the global mortgage brokerage services market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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