The number of direct products rose for the fourth month in a row as mortgage activity fell in July, according to the August TrigoldCrystal Product Index.
The latest index from the sourcing system reveals direct products have increased by 10% since May while the average number of products available to intermediaries dropped from 2,610 in June to 2,202 in July. This is a reduction of 408 individual products and a fall of 6%. The reduction of products to intermediaries leaves product availability significantly lower than in precious years. In July, the average number of direct products was 1,240 - an increase of 46 from June. TrigoldCrystal said 672,124 mortgage sources were performed in July, which represents a fall in intermediary activ...
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