The view before the year started was that gross lending would increase, more lenders would launch, helping drive up intermediary market share and further regulation was not necessarily a good thing.

From my 1,150 tweets to date for 2016, I have selected what I think is an interesting set from each of the twelve months. Do click through and read the original articles.

January

AMI’s Robert Sinclair and IMLA recommended that the forthcoming mortgage market competition review focus on online execution only sales which could be drifting into advice. Did they foresee the rise of the digital mortgage broker and hints of robo-advice?

“AMI: “We are concerned that certain people might be pushing to change the landscape around digital.” https://t.co/Z9hN8BZ2Se

February

Paragon were proved right as Buy to Let mortgage sales spiked in March before the new rules kicked in April, only to fade away during the rest of the year.

Paragon “piece-meal changes such as stamp duty may create serious distortions in the housing market” https://t.co/CW4aQIAU24  

March

Stephen Noakes from Lloyds bank expressed concerns that lengthy mortgage interviews as a result of the mortgage market review were not providing the best customer experience and I think many consumers would agree.

LLoyds MMR “may have undermined the mortgage customer journey” https://t.co/dWcOhzClmb

April

Well along with David Cameron, George Osborne also made a wrong call, as mortgage rates dropped rather than increasing. As Brexit unfolds, it may be a different story.

“George Osborne says Brexit would drive up mortgage rates” Fear or Fact? https://t.co/J2sMyOAgX0 

May

Following the implementation of the EU Mortgage Credit Directive the market has ended up with two disclosure documents in play, with many larger lenders opting for the ESIS, but others remaining on the KFI with additions. Brokers and consumers confused, especially when comparing deals.

“Brokers blast ‘confusing’ ESIS” Not unsurprising, the KFI a much clearer document. https://t.co/3Q8AFJCE6I  https://t.co/iLy6PVtdBx

May also saw the 2nd Annual Intermediary Survey report published. What did they find out?

Intermediary Mortgage Market Share, Has it Peaked? - IMS2016 https://t.co/0RBkb8BG2d

June

To the millennials buying a mortgage appears to mean stepping back a century, as many lender systems leave much to be desired in the smartphone and app world we now live in. Though lenders are beginning to listen and invest.

“How technology can transform lending” https://t.co/3DUQR0KZHd  

July

June the 23rd came and went, but the housing and mortgage market proved resilient and confounded the naysayers.

'Business as usual' as housing and mortgage markets crank back to life - positive news https://t.co/zSQvVe4Y2C

August

“..at the first mention of robo-advice during the Supper Club debate, a wave of groans and sighs from brokers went around the room. “ But brokers need to embrace technology and combine with their expertise to provide the best outcomes for consumers.

Robo-advice “I’ve never even heard of it,” https://t.co/xccB0XtjeU

September

The FCA is now known as one of the most fintech friendly regulators in the world, nurturing innovation to promote competition and improve customer outcomes. Don’t doubt it, fintech is coming to the mortgage market.

FCA supporting 9 robo-advice models with regulatory feedback on way https://t.co/tF9tCkUUBT

October

October continued my fintech Twitter theme with social media being looked at by both insurers and lenders as another source of data for underwriting consumers.

Can lenders underwrite by analysing applicants social media digital lives? https://t.co/jTjBn5x3Ce

October also saw the 5th annual mortgage efficiency survey report published, which in a nutshell said “some improvement, can do better and lenders need to do their homework on time”.

Mortgage Efficiency Survey 2016 – Findings presentation by Henry Woodcock  https://t.co/r1y0knDhH1

November

A seven day mortgage switching service was mooted by a government consultation, but although not ridiculed the industry is sceptical. The seven days appears to have been based on switching bank accounts (which has not really taken off) and is probably not appropriate for the mortgage market.

MMR regulation probably a key restraint on 7 day remortgaging rather than technology. https://t.co/rN1ELwPgdv

December

As the topsy-turvy year – Brexit, May and Trump – came to a close, and Digital Mortgages from Atom Bank was launched.

Atom Bank enters mortgage market - powered by next generation Mortgage Sales and Originations software https://t.co/nCgv6EK0dO

The proposition combines leading technology and the human face to deliver a unique mortgage service.

“fundamentally there is "no machine-only answer, that's not how you buy mortgages," ” https://t.co/f4jr2a5vDb

What will 2017 bring?

Most commentators, myself included, see the mortgage market slowing to a steady pace next year. Competition between lenders, brokers and digital brokers for business will increase and investment in smart technology to remove friction from the sales process and increase efficiency and lower costs will be a requirement, not a nice to have option.