In light of the economy’s continued uncertainty, many mortgage lenders are worried about the rising rates of foreclosures and bankruptcies. While COVID-19 loan moratoriums temporarily suppressed these rates, the post-pandemic era has new trends in store. So, what does this all mean for mortgage lenders? In this article, we’ll explore the relationship between forbearance, foreclosures, and bankruptcy. We’ll also highlight … Read More
Talk Data to Me: Keys to the Future – Helping Gen Z Navigate the Homebuying Journey with Ally Carty 71.5% of Gen Zers plan to buy their first home in the next 1-6 years, while 37.2% plan on buying as soon as 1 – 3 years.1 So, how can today’s lending professionals help them navigate the homebuying process? In this … Read More
Your credit reports have far-reaching ramifications. Most notably, the information contained in your credit reports is used to calculate your credit score. If any of this information is outdated or inaccurate, it may cause your credit score to be lower than it should be. According to a recent Consumer Reports study, one-third of consumers have at least one error on … Read More
As of May 1st, 2023, Fannie Mae and Freddie Mac have altered their LLPA matrix to make homeownership more attainable to first-time homebuyers and underserved borrowers. While this change was made with good intentions, it has spurred some controversy amongst mortgage professionals. So, what are the details regarding the LLPA changes? And what do they mean for mortgage lenders? Below, … Read More
Qualifying More Borrowers in Today's Market [Part 1] Your browser does not support the audio tag. Qualifying More Borrowers in Today's Market [Part 2] Your browser does not support the audio tag. Talk Data to Me: Qualifying More Borrowers in Today’s Market From growing expenses and declining revenue to the impacts of increasing consumer debt and decreasing creditworthiness, competing in … Read More
This year, housing affordability has reached a record low.[i] Only 21% of homes for sale are considered “affordable,” meaning that their estimated monthly mortgage payments are less than 30% of the average residents’ income. That figure is down from 60% in 2021.[ii] So, what’s the reason behind these costly market conditions? High interest rates and low housing inventories are two … Read More
