What Can Servicers do to Streamline Loan Modification Process
At a time when interest rates are seeing a major spike, there is a continued rise in defaults. A slowdown in the economy looks inevitable and servicers have to find ways and means to retain borrowers. One way is by offering loan modification option as a response to a borrower’s inability to repay a mortgage […]
How Lenders Can Benefit from Non-QM Loans that are Driving Growth in the Mortgage Industry
In January this year, the US Fed announced that it will be increasing interest rates not one or two but four times. The ultimate impact, needless to say, has been on consumer confidence leading to fewer refinances, given that there will be less attractive interest rates on offer. However, one major development due to the […]
Why Lenders are Purchasing More MSRs in 2022
During 2020, there was a record-breaking dip in mortgage rates, going down as low as 2.65% on a 30-year fixed-rate loan. As a result, it led to an origination boom during which many lenders struggled to manage the high demand and meet the challenges of closing deals at lightning speed. The refi boom is slowing […]
The Re-emergence of HELOC
Home Equity Lines of Credit (HELOC) were prevalent in the 2000s – people took loans against their homes to fund new cars, college education and even a second home. During the recession, HELOCs seemed to disappear, but they are now making a return to the market. Home values are rising now, surging with the economy. […]
How to Capitalize on Title Opportunities with Rising Loan Default Volume
Mortgage delinquencies have been on the rise and industry experts are predicting an increase in loan defaults over the coming months. Per Black Knight, the national delinquency rate in February rose for the first time in 9 months, largely driven by a 97,000 rise in early-stage delinquencies, The study also revealed the number of properties […]
Bots v/s Title domain expertise: What’s your best bet?
We dwell in an era where smart bots surround us in every field and level of consumer contact. A report by HubSpot has pointed out that “approximately 21% of customers believe that chatbots (bots on the website) are the best and easiest way to initiate a conversation with any business.” In the mortgage business, Artificial […]
A Better Way to Manage Mortgage Layoffs
The US mortgage industry is witnessing historic layoffs. There have been more than 3,500 job cuts over the past three months. With borrower demand declining as a result of higher interest rates, and rising property values, companies are saying layoffs will continue given current market conditions. Market fluctuations and downturn Mortgage rates rose to 5% […]
How Mortgage Outsourcing Aids Lenders in Dealing with Profit Margin Compression
There have been several ups and downs in the US mortgage industry over the past decade. However, one of the major factors that have been impacting profitability and business efficiency is profit margin compression. Lender profit margin expectations have steadily fallen over the years since 2015. The recent figures aren’t very optimistic either. According to […]
The Most Influential Women in the Mortgage Industry
In celebration of International Women’s Day, we’d like to celebrate some of the industry’s most powerful and influential female leaders. The acts, decisions, and positions they play in their respective companies have an impact on us and motivate us. Please note that the list is not in any specific order. It’s just a list of […]
How Intelligent Automation is Helping Lenders in Mortgage Processing?
Irrespective of which business you are in, digitizing your business is one important step to take, and this is no exception for mortgage lenders. Incorporating technologies into a whole lot of application processing helps to reduce the burden of having to process loads of documents manually or semi-manually. This helps reduce the workload on limited […]