The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Mortgage

Citigroup leverages Zillow to grow online mortgage lending

Creates digital marketing alliance

Citigroup (C) is putting greater emphasis on its mortgage business by expanding its digital presence online through a new marketing alliance with Zillow (Z).

This moves comes during a time in the market when lenders are adjusting their business to adapt to the new regulations, low rates and home prices. 

Last August, Wells Fargo (WFC), which employs more than 7,000 mortgage consultants and has readily adjusted to offer more mortgage options, announced it had relaxed some of its credit standards for high-priced home loans in order to combat the industry–wide plummet in mortgage volume.

Now, Citigroup has entered into a digital marketing alliance with Zillow, agreeing to increase its presence on Zillow, Zillow Mortgages and StreetEasy, New York City’s real estate app and website owned by Zillow.

Under the alliance, Citi has increased its advertising program for mortgages on StreetEasy, including multiple ad placements, sponsorship of content and visibility for approved pre-certified buildings. Additionally, the Citi brand will be amplified, in terms of advertising, on Zillow’s desktop and mobile experiences.

Online mortgage are gaining prominence in the mortgage industry, especially with the influx of millennials looking to become first-time homebuyers.

Lenders’ main demographic, millennials, are used to finding all their resources online, spending an average of 35 hours per week on digital media, nearly twice as much as non millennials, a report from Cultural Outreach Solutions.  

“Today, the vast majority of potential homebuyers begin their property searches online,” said CD Davies, head of Citis Mortgage business globally. “We are stepping up our digital presence in the real estate space to ensure we are a leading mortgage provider in the markets we serve. Zillow offers us the opportunity to reach homebuyers and engage the real estate community in an easily accessible and productive way.”

Most Popular Articles

These are the hottest housing markets in America

A housing market report from RE/MAX found that 36 of 51 metro areas had double-digit year over year sale price increases in August. Boise led the way.

Sep 17, 2021 By

Latest Articles

Forbearance numbers fall as borrower exits remain high

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. It fell 8 bps to 3.00%.

Sep 20, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please