We focused on the importance of pricing along the customer journey: during the hunt for a loan, when comparing lenders before completing an application, and (given the ease of comparing prices online these days) whether consumers continue to shop once their application is underway. From this, we identified five insights that will guide lenders as they evolve and enhance their pricing capabilities.
Category: News and Trends
Sponsored Content from Pavaso: Data Privacy and Working with eClosing Service Providers
With eClosings on the rise and remote online eClosings in demand during the COVID-19 pandemic, many lenders and settlement providers are eager to extend these services to their customers. There are many important factors to consider when selecting an eClosing technology service provider.
Lawson Hardwick: Maintaining Company Culture to Put Out Flames of Rapid-Fire Hiring
It is important to hire mindfully and focus on maintaining company culture during times of rapid expansion. Otherwise, it is easy to unknowlingly compromise culture. While drawing people in the door to help relieve the existing workload, some push through the hiring process too quickly and hire people who are not the right fit.
Dealmaker: Electra Capital Provides $92M Bridge Loan
Electra Capital, West Palm Beach, Fla., closed a $92 million bridge loan for Four West Las Olas, Elevate Partners’ new apartment tower in downtown Fort Lauderdale, Fla.
MBA Urges FHFA to Extend Current GSE Affordable Housing Goals
The Mortgage Bankers Association, in a letter this morning to the Federal Housing Finance Agency, said FHFA should extend current affordable housing goals for Fannie Mae and Freddie Mac, given current economic uncertainty.
Apartment Leasing Rebounds in Third Quarter
Apartment leasing proved strong in the third quarter, bouncing back from the limited demand seen earlier this year, reported RealPage, Richardson, Texas.
Latinx Americans Driving U.S. Homeownership Gains, But Roadblocks Persist
“Remarkable growth” this past half-decade has boosted the share of Latinx households in the U.S. that own their home to its highest since the Great Recession, said Zillow, Seattle. However, despite these encouraging signs, roadblocks remain on the path to equitable housing.
Dealmaker: Boulder Group Arranges $17M in Net Leased Asset Sales
The Boulder Group, Wilmette, Ill., arranged $16.5 million in single-tenant net leased asset sales.
Quote
“Nearly two-thirds of borrowers who exited forbearance remained current on their payments, repaid their forborne payments or moved into a payment deferral plan. All of these borrowers have been able to resume – or continue – their pre-pandemic monthly payments.”
–MBA Chief Economist Mike Fratantoni.
MBA: Share of Mortgage Loans in Forbearance Drops to 6.32%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 49 basis points to 6.32% of servicers’ portfolio volume in the prior week as of October 4 from 6.81% the previous week. MBA estimates 3.2 million homeowners are in forbearance plans.