two years ago, mortgage industry advisory firm STRATMOR Group published data illuminating just how important it is for loan officers to attend their closings. We live in a very different world than we did two years ago, and while the nature of closings may have changed in 2020, the impact of the closing on the overall borrower experience has not.
Tag: Coronavirus
Home Sales Exceed Pre-Pandemic Levels for the First Time; Sentiment Grows for Buying Homes Sight-Unseen
Redfin, Seattle, said home sales surpassed pre-pandemic levels for the first time the week ending July 5, up 2% on a seasonally adjusted basis compared to January and February levels.
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.
Initial Claims Down Slightly Amid Continued Disruption
Initial claims filed with the Labor Department totaled 1.3 million last week, a decrease of just 10,000 from the previous week and a stark reminder of how the coronavirus pandemic has upended the U.S. economy.
Home Builder Confidence Back to Pre-Coronavirus Levels
Builder confidence in the market for newly built single-family homes jumped 14 points to 72 in July, the National Association of Home Builders reported yesterday, calling it a “strong signal” that the housing market is ready to lead a post-COVID economic recovery.
COVID-19 Pandemic to Cause Commercial/Multifamily Lending Pullback in 2020
Commercial and multifamily mortgage bankers are expected to close $248 billion in loans backed by income-producing properties this year, a 59 percent decline from 2019’s record volume of $601 billion, a new Mortgage Bankers Association forecast said.
Mortgage Applications Up Again as 30-Year Rates Hit Another Record Low in MBA Weekly Survey
Mortgage applications increased for the second straight week as the 30-year fixed rate fell to yet another record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending July 10.
Mark Dangelo: Beware—Watch This Space, Part One
In a world of uncertainty, bankers, lenders and technology firms had grown accustom to traditional measures and approaches honed over decades of lessons learned. Today, the playbooks are gone, and we need to accept that consumers will not wait for us as we say the right things—but execute against a script that has been retired.
Rick Triola: How to Avoid Leaving an Empty Seat at the Closing Table
two years ago, mortgage industry advisory firm STRATMOR Group published data illuminating just how important it is for loan officers to attend their closings. We live in a very different world than we did two years ago, and while the nature of closings may have changed in 2020, the impact of the closing on the overall borrower experience has not.
Mortgage Applications Up Again as 30-Year Rates Hit Another Record Low in MBA Weekly Survey
Mortgage applications increased for the second straight week as the 30-year fixed rate fell to yet another record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending July 10.