Why Loan Officers & Financial Advisors Make a Perfect Combo

Loan officers and mortgage brokers looking to build professional networks would be wise to consider financial advisors. They make a perfect combination. Financial advisors, quite simply, provide financial advice for their clients. This can come in many different forms, including estate planning, investment management, tax preparation, and more. The term financial advisor is a broad…

The Changing Psychology of Homebuying

A recent study by Redfin that spanned 3,000+ homebuyers across 11 different homebuying markets revealed some interesting changes into the trends of homebuying. The way that Americans are buying homes and the things that are important to them when buying are changing. Understanding these changes as well as why these changes are occurring is vital…

New Goals for Fannie & Freddie

A new rule is being considered for Fannie Mae and Freddie Mac which would create new housing goals for underserved markets. The Federal Housing Finance Agency (FHFA) proposed the rule with the goal of expanding accessibility to credit for certain types of homebuyers and certain types of markets. They hope to help more Americans acquire…

Fannie & Freddie to Help Underserved Markets

Government-sponsored enterprises are corporations that were created by Congress for expanding the offering of financial services to all Americans by assisting with the flow of credit across aspects of the economy. GSEs have a net benefit for the borrowers, by making credit more accessible; for the lender, by reducing risk of defaulted loans; and for…

Starter Home Alternatives for New Homebuyers

Housing costs continue to increase quarter after quarter nationwide. With more and more buyers entering the market as the economy continues to recover, as well as a shortage of starter homes for sale, many first-time homebuyers are finding it very difficult to purchase their first home for a reasonable price. Many builders are focusing on…

5 Cities Making the Biggest Recovery

Every American was affected by the Great Recession in some way. Whether it was the job market or the economy in general, the numerous effects were widely felt. Some felt it more than others. That’s true as well for American cities. When the housing bubble burst, many homeowners lost their homes, and a lot of…

Fannie Mae & Big Data Make Huge Strides

The mortgage industry perhaps more than any other has a wealth of acronyms known as Alphabet Soup. UMDP, UAD, UCDP, URLA, UCD, and more. Collectively, these represent industry-wide efforts to bring standardized data collection and reporting in the mortgage market. The thought was that if all mortgage lenders and brokers conformed to a single standard…

Alternative Credit Scoring Options

The traditional means of assessing the risk of a potential borrower is under review around the nation. The Great Recession of 2008 triggered a wave of regulatory restrictions on underwriting criteria. Many Congressional legislators aimed to restrict the types of products that were marketed to the American consumer with the goal of eliminating financial products…

The Biggest Obstacles for Home Sellers

It has been widely reported throughout the mortgage industry that it is a seller’s market. This does not mean that the road to selling a home is made of gold bricks. Sellers still face challenges and obstacles. Understanding those difficulties on the part of the mortgage broker or loan officer can assist the seller in…

Analyzing Millennial Home Buying Behavior

A very detailed report on millennial homebuyer behavior was recently released by the Ellie Mae Millennial Tracker. The millennial group is hugely important to the American economy, particularly the mortgage market. With 70 million people, millennials are now the largest living generation. How they view homeownership and their ability to acquire credit for a mortgage…