Teresa Bryce Bazemore is president of Radian Guaranty Inc., Radian Group Inc.’s principal mortgage insurance subsidiary. As president, Bazemore is responsible for all domestic and international mortgage insurance business operations.
Almost a decade after the housing crisis, many responsible potential homeowners remain locked out of the market. But recently there have been a pair of hopeful developments that may be key to opening doors to homeownership for qualified first-time and underserved buyers. Fannie Mae and Freddie Mac have unboxed two long-anticipated initiatives designed to make credit more available to deserving potential buyers without compromising standards. Importantly, these are not politically driven affordable lending programs.
Many people want to own a home of their own, but it does not seem within their reach. Equipped with the proper information and support, the possibility of responsible and sustainable homeownership is not as remote as it may seem.
Millennials will continue to enter the housing market in growing numbers in the coming years, and those who work in housing need to recognize and embrace the most important ways the Millennial generation differs from previous generations of homebuyers. Their diversity is at the top of the list.
While other state and federal regulatory bodies overlap in their regulation of the mortgage industry, the very particular consumer focus of the CFPB is not duplicated by any other body. Will deregulation mean a return to the Wild West lending atmosphere that led to the financial crisis? What happens next? We asked John Socknat, partner at Ballard Spahr, to weigh in on what mortgage lenders and servicers can expect from a Trump administration.
Amid the potential new direction from the White House, Congress and regulators, leadership in our industry is more important than ever. Which is why HousingWire is proud to present the 40 winners of our 2016 Vanguard award. These leaders from all segments of the mortgage ecosphere demonstrate that our industry is more than capable of meeting the challenges that lie ahead.
The marketplace is full of hard and private money lenders — it will come down to who can best assist investors in completing their goals, whether that be by providing quicker close times, or with more accurate valuations. With how many options there are for borrowers, lenders will need to start competing for marketshare as borrowers shop their situations to multiple lenders, leveraging the offers against each other. This process will force lenders to update their guidelines, or be forced out of the market.