This article is an excerpt from our full “Beyond Traditional Borrowers: How Mortgage Lenders Can Embrace & Attract Diversity” Guide. To access the full guide, click here. Financial advisors often stress the importance of diversifying your investment portfolio. By spreading your investments across different assets, you minimize your risk and protect your returns amid unexpected market conditions. When it comes … Read More
With interest rates declining and additional rate cuts on the horizon, the housing market is slated for a resurgence. Lower rates should enhance affordability and increase inventory very soon, but are your borrowers ready to seize this opportunity? In the coming months, many potential homebuyers may apply for mortgages, only to discover that their poor creditworthiness and elevated consumer debt … Read More
Spooky season is officially upon us, and while Halloween’s ghosts and goblins are scary, there’s something even more frightening lurking in the shadows: the spine-chilling figures in your applicants’ credit reports. From eerie errors to ghost-like credit invisibility, many aspiring homeowners’ credit reports need some TLC before they’ll be mortgage-ready. But fear not! Below, we’ll shine a light on these … Read More
While 2024’s challenging market conditions have been difficult for many financial institutions, credit unions have been hit the hardest. Credit unions faced a 31% decrease in lending since the second quarter of 2022, compared to banks’ more modest dip of 11%. Fortunately, brighter times are on the horizon. Thanks to the Federal Reserve’s recent rate cut, housing inventory and mortgage … Read More
Have you heard the news? Mortgage buybacks are on the rise. Freddie Mac’s 2024 mortgage repurchase requests spiked 29.1% from Q1 to Q2, bringing them up to $430 million. While loan buyback requests are never welcomed, they’re particularly damaging in today’s market. In the face of high mortgage rates and housing affordability hurdles, loan volumes fell to their lowest level … Read More
Automated valuation models have revolutionized the real estate industry, offering quick and cost-effective property valuations. These sophisticated algorithms crunch vast amounts of data to estimate a property’s worth in minutes. But, how accurate are they really? And what impact are they having on buyers, sellers, and lenders? Over the past decade, AVMs have evolved from clunky tools to sleek, AI-powered … Read More
