Understanding Today’s Connected Borrower

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The unique challenges facing minority first-time homebuyers

In this episode, we interview Timothy Demry, a real estate agent in San Francisco’s Bay Area, about his experience serving minority first-time homebuyers.

How modernized servicing creates customers for life

Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators.

Savvy lenders are already preparing for the next valley – Here’s how

Despite increased rate of tech adoption, the industry still has room for continued tech development and usage. Read here to learn more about key technologies that lenders need to give more attention to.

Mortgage

No. 1 reason people move

Hint: It's housing related

From 2012 to 2013, 36 million people who are one year and older moved, but why?

School. Work. Friends. Family. All of these are valid options, but the U.S. Census Bureau released a report putting real numbers and reasons behind the question.

The number one reason cited: housing.

Family, which made up 30.3%, employment, 19.4%, and other, 2.3%, closely followed behind housing, which made up 48%.

"We asked people to select the reason that contributed most to their decision to move. Picking one reason can be difficult as moves are often motivated by many different, and oftentimes competing, factors," said the report's author, David Ihrke, a demographer in the Census Bureau's Journey to Work and Migration Statistics Branch.

"For instance, if one's primary reason for moving is to be closer to work or having an easier commute, they may have to sacrifice other preferences. This could include forgoing cheaper housing options or settling for a different neighborhood. If they mainly want cheaper housing, they may have to deal with a longer commute."

Key findings in the report include that males were more inclined to move for job-related reasons than females.

In addition, married respondents were the least likely to move for family-related reasons.

Census Bureau_ Moving   

(source: Census Bureau. Click image for larger picture)

 

 

 

 

 

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