Welcome back to the final installment of the series. Read on to see insights to other Millennials’ experiences. As frustrating as the actual mortgage process was, due to all the complexity, the back and forth with the loan processor and the loan officer, and attempting to get all the explanations of everything that was unfamiliar to me, I’ve been in…
In today’s mortgage industry, loan quality is best assured throughout the process, not after the fact. The reason the regtech solutions are taking off is because lenders are slowly realizing they need to tackle loan quality issues as they happen, from the point they begin gathering information to create a loan file through closing. The business risk of producing bad…
Welcome back to the series, Millennials Mortgage Process! Buckle up for this post, because initial disclosures, mortgage paperwork, and loan estimates are certainly a bumpy ride. “Initial disclosures are the preliminary disclosures that must be acknowledged and signed in order to move forward with your loan application. These disclosures outline the initial terms of the mortgage application and also include federal and state required mortgage disclosures.” Initial disclosures are terrifying.…
Borrower satisfaction is undoubtedly still a challenge for mortgage loan servicers. J.D. Power reported in their Primary Mortgage Servicer Satisfaction Study that mortgage servicer ratings remained stagnant in 2018. Furthermore, overall ratings have hovered around 758 points on a 1000-point scale for three consecutive years.[1] The first opportunity for servicers to positively influence borrower satisfaction is during the loan boarding…
Welcome back to the series, Millennials Mortgage Process! In this post, I’ll give you a glimpse into the hectic first steps of the mortgage process, and just how quickly the pre-approval process takes in today’s digital mortgage world. My fiancé and I officially started to look at houses. We were using Zillow to find houses/townhomes/and neighborhoods that were…
Millennials and Mortgages- the two words that seem to be on everyone’s mind recently. As a professional Millennial working in the mortgage industry, I’d like to offer a first-hand account of what we see and encounter in the Mortgage and home buying process. I’ll share my perspective of my own home buying experience throughout several posts this year, and hopefully…
