Millennial homebuyers (born between 1981 and 1996) are reshaping the real estate landscape with their strong preference for digital tools and technology-driven experiences. As the largest cohort of homebuyers in the U.S., their tech-first approach influences how properties are marketed, searched and purchased. Here’s the hard truth. If these buyers are looking online for lenders […]
Building an empire starts with your POS Read More »
DIY automation pitfalls/myths: It’s time to rethink your strategy In today’s mortgage industry, nearly every organization is battling inefficiencies caused by manual processes. Whether it’s a loan officer pulling data from one system to enter it into another, or underwriting teams relying on endless email threads and spreadsheets, the day-to-day operations behind most lending workflows
DIY automation isn’t always a win: What mortgage lenders need to know Read More »
The mortgage industry has undergone significant changes over the past few decades. One of the most notable has been the separation of origination from servicing. This decoupling was initially driven by the desire for greater efficiency, specialization and the need to respond to growing regulatory and market pressures. However, recent technological advances, especially in artificial
Bringing origination and servicing together with AI Read More »
The rising cost of homeowners’ insurance coupled with the rising regularity of weather-related natural disasters is serving to erode the longstanding barrier between mortgage lenders and loan losses, according to a new report published by First Street. As the frequency of disasters has risen — destabilizing the insurance market, limiting coverage and raising consumers’ costs
Extreme weather and high insurance costs pose foreclosure risk Read More »
Mortgage lenders and services today face significant operational challenges, especially when relying on third-party processors for their outsourced services. While these middlemen operators can streamline certain tasks, the benefits are outweighed by their extreme high costs as well as the limitations over operational controls. Here we will focus on the complexities involved with outsourcing, and
The driving forces behind mortgage lenders moving away from third-party processors Read More »
John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the
Competition for HELOC business heats up as home equity grows Read More »
Mortgage rates rose in the past week, but even as they remain close to 7%, there’s little evidence to suggest they’ll move much higher and further constraint housing affordability. On Tuesday, 30-year conforming rates averaged 6.93% while 15-year conforming rates averaged 6.76%, according to HousingWire’s Mortgage Rates Center. In comparison, these figures stood at 6.88%
Mortgage rates remain close to 7%, but there are positives for housing Read More »
Rocket Companies, traditionally known for its call center model, is diversifying its channel strategy amid its deals to acquire Redfin and Mr. Cooper, according to Chief Operating Officer Heather Lovier. “When we think about how we’re diversifying, obviously, Rocket is very consumer-direct — we have our direct-to-consumer channel. But we’re also diversifying in the field
Rocket has regionalized consumer direct channel Read More »
The Mortgage Bankers Association (MBA) highlighted the deregulatory efforts of the Trump administration at its Secondary and Capital Markets Conference in New York this week, including work at the CFPB. But on the topic of releasing the government-sponsored enterprises (GSEs) from conservatorship, MBA president and CEO Bob Broeksmit said he isn’t expecting action anytime soon.
MBA’s Bob Broeksmit: ‘The CFPB is listening’ to industry concerns Read More »
Non-QM (Non-Qualified Mortgage) lending has become essential to today’s mortgage landscape, providing solutions for creditworthy borrowers who fall outside traditional lending criteria. Gregory Tsang is the Chief Executive Officer and co-founder of eRESI, a Non-QM correspondent whole loan investor offering both Delegated and Non-Delegated options. Co-founded in 2019 alongside President Tim Wang, eRESI was created
Lending beyond limits: eRESI’s perspective on the future of Non-QM loans Read More »
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