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REwired

On the rebound: Get ready for the 2018 surge of homebuyers

Here's what MLOs and Realtors need to keep in mind
'Rebound' might not be a good thing when referring to a dating situation, but it's not a bad thing at all when we're talking about housing. In fact, there are a lot of people 'on the rebound' that mortgage loan officers and their Realtor partners should be courting. Approximately 1.5-million consumers are eligible to buy homes in 2018. Ready?
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Expanding mortgage credit availability isn't hard, if you do it right

Carrington Mortgage Holdings' Dan Magder on how to open the credit box
At meeting after meeting with mortgage industry executives, government officials ask all of us to expand mortgage availability to underserved borrowers. But those officials caution industry leaders in the very next breath, don’t loosen underwriting standards and return to the go-go days of the credit crisis. Hearing these seemingly contradictory requests, the lending community is left scratching its collective head. But there are ways to bridge the divide.
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Here's the social media guide tailored just for mortgage lending

The key to client retention
$1.6 trillion. This number defines the business potential you have in mortgage originations. The trick is to use social media to beat out all the other companies in the mortgage space that are also fighting for their share. But you’re not trying to just master social media, you’re trying to harness a tool to connect with future clients and enhance client retention to grow your business. This is how you do that.
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When it comes to GSE reform, there's no need to reinvent the wheel

We don't need to start from scratch with reform
After reviewing various GSE reform options, I strongly believe our strongest course of action would be to combine the existing GSEs into a single, super GSE operated similarly to Ginnie Mae. Ginnie is already a proven success story, in spite of underfunding and hurricane-like market headwinds in the past ten years, so why not build upon something that we know works?
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Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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