4 Tips to Market to Multicultural Homebuyers

The United States is a massive country with more than 320 million people living within its borders – and we’re a land of different ethnic, religious, and cultural backgrounds. For instance, did you know that there are 500 languages spoken in the U.S.? In fact, eight of those languages have more 1+ million speakers: English,…

How Government Discord Affects the Mortgage Market

2018 has involved multiple disagreements in Congress leading to two different government shutdowns. A government shutdown literally means that most of the federal government cannot operate due to the inability to pay salaries and bills. Federal employees are furloughed to cut costs and only the essential functions of government are funded in the interim. A…

Why are Defective Loans Increasing?

A recent study offered by Aces Risk Management (ARMCO) revealed that defective mortgage loans are increasing nationwide. Defective mortgages speak directly to the quality of mortgages that are originated. Several factors are influencing this trend. First, let’s examine what a defective mortgage is, then consider the state of the current mortgage market. After that, we…

EXP: Because Things Don’t Have to Suck

Let’s be honest – no one is out there raving about online mortgage interfaces. While the retail and entertainment industries have constructed platforms that make it easy for people to understand and use, mortgage sites have been clunky, confusing, and quite frankly, a little bit ugly. But it doesn’t have to be that way. Things…

Accessible Mortgage Equity at an All-Time High

According to the Mortgage Monitor report generated by Black Knight, the amount of accessible equity is at an all-time high. More and more Americans are discovering that their homes have more value available within them. One of the biggest drivers of this home equity trend are appreciating property values across the United States. Home values have…

Credit Card Debt Could Be a Barrier to Owning a Home

According to a new study released by NerdWallet, credit card debt in the United States continues to increase. As of 2017, household credit card debt reached a balance of $15,654. Let’s compare the amount of money spent on credit card debt to a mortgage. Last year, Americans owed $8.74 trillion on their mortgages while owing…

FHA Increases Loan Limits for 2018

The Federal Housing Administration announced recently that they are increasing the FHA loan limits for 2018. FHA loans are originated by FHA-approved lenders and are insured by the FHA as part of the public mandate to assist Americans in purchasing a home. The 2018 increase affects nearly every area of the United States, more than…

Pacific Union: What We Believe

Mortgage isn’t quite like any other business. On any given day, we’ll help a young family buy a home in which children will grow, or enable someone to tap into their home’s equity and send a scholar off to college, or get an empty nester a home loan refinance so they can remodel their home…

FHFA Considers Alternate Credit Scoring System

The venerable FICO scoring system for rating borrower’s credit has been a foundational piece of the mortgage process for nearly 30 years. The major credit bureaus (Equifax, Experian, and TransUnion) compile consumer credit files, which are then used to calculate the FICO credit score. While the system was the best attempt for a mathematical solution…

Brokers Play Key Role Despite Digitization

The mortgage industry is evolving day by day as technology and data is integrated into every aspect of the lending cycle. More data is available for both the lender and the borrower for faster turn arounds, more accurate assessments, and a reduction in errors. It’s an exciting time for the mortgage industry. Despite this rapid…