According to the Fed, due to weaker than expected gross domestic product returns, the Fed rate will remain unchanged. In other words, because they don’t see what they would like to see, rather than increase rates, they decided to tap the brakes and evaluate the situation. Umm, where did I hear that before? Seems like the prudent thing to do.…
With the CFPB cracking down on Marketing Services Agreements (MSAs) many lenders exited such agreements with Realtors and Builders. These are Agreements that were intended to increase business to the lender and provide some additional income to the Realtor and Builder. For some, it was nice while it lasted. For others, they were glad to see the MSAs go away.…
With the New Year comes the rise in interest rates and the decline of the refinance. That means that lenders need to concentrate their attention on Realtors and Builders for new business in the New Year. Hopefully, originators remember how to do that. This brings us back to good old customer service. Customers, the Realtors, builders, and buyers, require attention…
Interesting that someone who does not have what has come to be known as a ‘traditional’ credit score finds it difficult to get a mortgage. It wasn’t that long ago (some of us still remember) when there wasn’t such a thing as a traditional credit score. Loans were underwritten based on the applicant’s profile, including how they paid their debts.…
More and more lenders are providing consumers with online capabilities to obtain information about products offered and make application for a mortgage loan. More and more consumers desire and expect these capabilities when making their decision on which lender they choose. To stay competitive as a mortgage lender you need to offer the consumer the option to communicate through online…
Today, to reach and service more potential homebuyers, lenders need to embrace technology with the use of an online application process. Millennials expect it, and others are starting to get used to it. However, with refinancing opportunities dwindling lenders need to once again concentrate their production attention on the purchase business. According to a recent Freddie survey, that business still…
