Whether verification of income, employment or assets; or payment histories tied to rent rolls and utilities like mobile phone service; by incorporating these additional data sets into the loan decisioning process, lenders gain a deeper understanding of the borrowers they serve.
Tag: First-Time Home Buyers
Chad Whittenberg of Equifax: Providing First-Time Homebuyers With An Optimal Lending Experience
Whether verification of income, employment or assets; or payment histories tied to rent rolls and utilities like mobile phone service; by incorporating these additional data sets into the loan decisioning process, lenders gain a deeper understanding of the borrowers they serve.
Genworth: ‘Sharp Slowdown’ in First-Time Homebuyer Market
The COVID-19 recession triggered a sharp slowdown in first-time homebuyer activity in the second quarter, reported Genworth Mortgage Insurance, Raleigh, N.C.
MBA Chart of the Week: Average Loan Size to First-Time Home Buyers
On average, the size of a first-time home buyer’s mortgage was $231,974 in the first three quarters of 2018, based on loan acquisitions data from Fannie Mae and Freddie Mac. This represents a 4.2% increase over the average size of $223,000 for mortgages to first-time home buyers originated in 2017 and an acceleration from the 1.8% annual gain in 2016.