Home Finance: Write-Offs Decrease by More Than 37 Percent

Home finance deliquencies have seen big improvement year-over-year.

The latest Equifax National Consumer Credit Trends Report is out, and it is full of good news about lower home finance delinquencies.

Best Practices for Mortgage Lenders to Enhance Targeted Acquisition Strategies

Best practices for lenders can smooth the mortgage loan origination process.

While lenders are looking at more targeted acquisition strategies to fill their loan pipelines as origination volumes decline, more stringent standards for lending should be taken into consideration. The Dodd-Frank Mortgage Reform rules set forth by the Consumer Financial Protection Bureau (CFPB) implements ability to repay (ATR) guidelines for mortgage lenders. For loans that will [Read More...]

Targeting Home Equity Prospects

Big data helps lenders identify their ideal customer for a home equity line of credit.

Home equity lending is increasing, which is good news for lenders; however, the landscape is much different than it was before the housing bubble in 2009. Lenders need to hone their acquisition strategies not only to acquire more customers, but also to be sure they are gaining the right customers. Targeting good Home Equity candidates [Read More...]

Marketing the Home Equity Loan or Line of Credit: Finding a Complete Solution

Finding the right marketing tools helps lenders write more home equity lines of credit to qualified borrowers.

With housing values increasing, consumers are showing renewed interest in taking out a home equity loan or home equity line of credit (HELOC). New mortgage originations are still lagging somewhat, so home equity marketing is a huge opportunity for lenders. Improving methods of evaluation There are many tools available to help lenders in their marketing [Read More...]

Compliance is Not the Issue

eSignature

The adoption of technology can counter some of the unintended consequences of today’s complex mortgage environment.  Keeping up with consumer demand for an electronic mortgage process not only provides a significantly better experience for the prospective borrower but also incorporates cost saving processes for a lender. In this article, Equifax’s Jeff Knott discusses how electronic [Read More...]

How Ability to Repay Guidelines Will Affect Potential Buyers

ability to repay

Purchasing a home is still part and parcel of the American Dream. In the wake of the lending crisis, though, the steps you must take to achieve that dream have changed a bit. In August 2013, the Consumer Financial Protection Bureau (CFPB) released their second update to new mortgage regulations. While many of the ability [Read More...]

The Reverse Mortgage Is Changing

reverse mortgage

The reverse mortgage has become a helpful tool for senior citizens who want to stay in their homes while accessing the equity they have built up over years of mortgage payments. As with most financial tools, this product needs to adapt to economic conditions, and recent and upcoming changes will do just that. How It [Read More...]

Use a Tenant Screening Service That Pays Off

Don't risk your rental income by skipping a complete background check.

If you manage properties, then you are accustomed to performing a background check before renting to new residents. What you may not realize is that the type of tenant screening service you use makes a big difference. There are many background services out there; however, some of these services may not provide all the detailed background [Read More...]

The Rise of the Multi-Unit Property: Prepping Mortgage Professionals

multi unit property

The Mortgage Bankers Association released a surprising report last year indicating positive trends for multi-unit property opportunities and commercial mortgages. While there are a number of explanations for the uptick in these property purchases, mortgage professionals need to be prepared for the increase in multi-unit and commercial lending, which can vary greatly from its single-residence [Read More...]

Working With the First-Time Homebuyer in Today’s Market

first time homebuyer

The number of pending-sale contracts in May of 2013 was higher than at any time since 2006, according to data released by the National Association of Realtors. Home prices have been steadily rising for the last 14 months, but the number of first-time homebuyers has been dropping for two years. In 2011, 36 percent of [Read More...]