Lenders Beware: HOAs Pack a Punch in Foreclosures

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Walk into almost any homeowners’ association (HOA) meeting, listen to the discussions about unleashed dogs and roof repairs, and you might think the organization is of little consequence to anyone outside the neighborhood. But you’d be wrong. The seemingly lowly HOA wields a great deal of power — and banks and mortgage servicers must be [Read More…]

A Deep Dive into ACA IRS Reporting with Intuit and Equifax

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A Deep Dive into ACA IRS Reporting with Intuit and Equifax Form 1095 for the Affordable Care Act is often called the “W-2 of benefits”. However, the stakes are much higher when it comes to reporting under ACA because this information will determine the penalties that you and your employees could face for failing to [Read More…]

Webinar: Credit Unions and the HELOC Landscape

Credit Unions and the HELOC Landscape

Event: Credit Unions and the HELOC Landscape Date: Tuesday, May 5, 2015 Time: 2:00 p.m. Eastern Registration Link:  http://consumer.equifax.com/LP=1585 According to the latest Equifax National Consumer Credit Trends Report, U.S. consumer appetite for home equity lines of credit (HELOCs) is increasing. More than 1.2 million new HELOCs were opened in 2014, a 15.8% increase over [Read More…]

Historically Low Interest Rates Spur a Rush of Homeowner Borrowing

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The confluence of two newsworthy trends is driving business for mortgage lenders: historically low interest rates and consumer fear that those rates could rise. Interest rates have dropped steadily since 2008, when the U.S. Federal Reserve slashed rates to boost a swooning housing market and staggering economy. Today, the economy has improved, but rates remain [Read More…]

The Challenge of Distinguishing Owner-Occupied Mortgages From Investor Mortgages

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Understanding the borrower’s intention for a property is a key factor in a lender’s mortgage application decision. Because it’s often safer to approve clients buying a residence for themselves, lenders often provide better rates for owner-occupied mortgage loans. Unfortunately, some borrowers might misrepresent their application in order to receive this lower rate. Having a process [Read More…]

Luxury Home Sales Shift to Domestic Buyers

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Over the past few years, luxury home sales have represented a bright spot in an otherwise weak housing market. Luxury home sales, or sales totaling at least $1 million, have increased every quarter since 2012 and significantly outpaced normal home sales. In the past, this activity mainly originated from international buyers. However, the past year [Read More…]

Visit Equifax at MBA’s Tech15

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March 29  – April 1 | Hyatt Regency | Orlando, FL Equifax delivers innovative verification and risk mitigation solutions that provide the transparency you need to streamline your loan process and reduce vendor costs. Visit our booth at MBA’s National Technology in Mortgage Banking Conference & Expo to learn more about how you can: Access [Read More…]

Can Government Programs Help Boost First-Time Homebuyer Sales?

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When the housing bubble and economy crashed, demand for housing fell across the board, with first-time homebuyers in particular becoming reticent to buy. The federal government had tried turning this trend around by creating a number of helpful programs for these buyers. Promoting and coordinating with these various programs could be a key for lenders to [Read More…]

The Reduced Buying Power of Millennials Is Hampering Homeownership

Mortgage lenders must creatively tailor their marketing efforts to combat the low buying power of millennials.

The reduced buying power of millennials has forced many to avoid homeownership. Here’s how to get them engaged in the real estate game.

Visit Equifax at MBA’s Servicing Conference & Expo

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MBA’s National Mortgage Servicing Conference & Expo February 23–26, 2015 | Gaylord Texan Resort and Convention Center | Dallas, TX As the industry continues to shift, many mortgage servicers are looking for solutions to maintain costs and portfolio health while complying with regulatory requirements. Visit Equifax at this year’s Mortgage Servicing Conference to learn how you [Read More…]