It’s not just Rocket Mortgage or Blink, many other mortgage lenders are launching systems for taking digital mortgage applications and handling loan closings. Seems everyone’s gotten the word. To service today’s consumer, you must have digital capabilities. It’s not just for the Millennials but for many other consumers as well. Most want the capability to shop, apply, communicate, and close…
Revisions to the Revised HMDA Rules With mortgage lenders just getting over the challenges created from the QM/ATR rules and TRID, they’re now faced with a new hill to climb; HMDA. CFPB just released a new proposal as Technical Corrections and Clarifying Amendments to HMDA. These are intended to update and clarify the new HMDA final rule it issued in…
It’s important for any business to have a profile of the customers they serve. It’s no different in mortgage lending. Yes, it’s easy to think that a mortgage lender’s customer is obviously someone who is financing a home, but there’s a little more to it. That’s a little like thinking that everyone coming to a wedding will dance to the…
I find it quite interesting to scan the daily headlines covering housing and mortgage lending. (I know, I gotta get a life!) Seriously, some recent headlines indicated: Mortgage rates tumble, but may head back up; Rates at 2017 low and may stay low; Application volume is down; but Credit availability is up What’s your take on rates, the housing market,…
United Wholesale Mortgage (UWM), one of the nation’s leading wholesale mortgage lenders announced they now offer Brokers a completely digital platform for loan originations. Meet “Blink” (Borrower Link). According to a release by UWM, their new Blink system allows Brokers to compete with large lenders that offer online applications and a digital loan experience. Just like QuickenLoans’ Rocket Mortgage. The…
According to a recent forecast from Fannie Mae, the projections for mortgage loan originations for 2017 now stands at about $1.5 trillion. Don’t get too depressed, although down from the past few years, that’s still quite a bit of loan volume. And it could be more; especially if you’re open to change and a little more risk. According to Jamie…
