Integrity Home Loan of Central Florida sees a challenging 2013 ahead

LAKE MARY, Fla. --- With Integrity Home Loan of Central Florida, Inc. averaging a 30 percent increase in mortgage transactions thus far this year compared to 2011, Matt Malloy, president, sees a “challenging” 2013 ahead. Malloy said 2013 will be challenging with interest rates going higher and many government participation programs due to expire at the end of next year. “Right now,” Malloy said, “the government is helping homeowners who are under water. That’s a government sponsored program through Fannie Mae and Freddie Mac, due to expire the end of next year and it makes up about 20 percent of our business,” he said. Thus far this year Integrity Home Loan of Central Florida has been handling more than 3,000 mortgage transactions. “With rates going higher, and with the government cutting back on programs, it could be a little challenging.” However, Malloy said, the purchase market is now starting to turn around and that should help. “It should be a very interesting year for our industry,” he said. Integrity Home Loan currently has locations throughout Florida in Coral Springs, West Palm Beach, Jacksonville, Orlando, Tampa, and in the Detroit suburb of Southfield, Mich.