The mortgage procedure involves everything from mortgage origination through closure. Unfortunately, due to the changes in the industry policies and the increased demands of borrowers, the mortgage process proves to be tedious for lenders. Also, if they have to process a huge volume of applications at one go, they...
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Everything that has a beginning also has an end. Mortgage Processing is no exception. After closing the mortgage, the mortgage lender must undergo a crucial process, which the industry calls as mortgage post-close audit. A mortgage post-close audit is a process where the auditors evaluate the entire mortgage process...
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Non-QM lending offers potential for lenders who are open to exploring underserved borrower profiles. The ongoing COVID-19 pandemic has led to several changes for the mortgage industry. Borrower profiles and market norms have also radically changed. However, even with the current mortgage environment, opportunities exist for lenders who are...
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The post- covid 19 era has seen a spike in interest for homes. People are changing locations and need to buy a home, while others explore the possibilities of investing in real estate through mortgage. The increasing need has significantly increased the number of borrowers who seek mortgage. On...
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Non-Qualified Mortgages have seen increasing interest among progressive mortgage lenders lately. Against the background of plummeting refinance activity, there has been a growing level of competition to service the limited loan volume. Coupled with the tighter business conditions, the market norms have rapidly changed and so have the borrower...
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In a recent article published on HousingWire, FHFA Acting Director Sandra Thompson announced expansions to the eligibility requirements for refinancing programs geared towards low-income borrowers. Desktop appraisals, temporary flexibility was implemented in March 2020 to keep the mortgage industry afloat amid lockdowns and social distancing. This will now become...
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The fall season is a great time for people to move locations and look to buy homes. The demand for home purchases has been high over the past several weeks. Mortgage lenders have had to deal with a large number of applications from borrowers. A mortgage lender needs to...
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The total mortgage debt outstanding in the U.S. as published by Statista Research Department amounted to approximately 16.96 trillion U.S. dollars in the first quarter of 2021. The number when clubbed with the findings that, “The rise of information technology (IT) in the financial sector has dramatically changed how...
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The current mortgage landscape is a highly competitive one. Speed, accuracy, cost efficiency, and superlative customer experience are vital to ensuring an edge in the crowded marketplace. In this scenario, if you can use the latest technologies to replace manual workflows, it can certainly empower modern-day lenders to enhance...
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Millennials now outnumber baby boomers in the U.S., according to U.S. Census Bureau projections. Millennials are more educated than baby boomers. In addition, they are more racially and ethnically diverse. With these changing demographics, diversity and inclusion in the workplace is an increasing area of focus. inclusion and diversity in...
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