The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Ellie Mae: More single, female Millennials are buying homes

Loan amounts usually smaller

Loan software provider Ellie Mae just put out its latest “Millennial tracker” and found several similarities in homebuying across gender lines in this generation — with one big difference.

“While men make up the larger percentage of overall Millennial borrowers, most of them are married,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “An interesting trend we’ve been tracking all year is that single women are buying homes much more than single men. 60% of women who were listed as the primary borrower in October were single, compared to 42% of men.”

So market your mortgage products accordingly, everyone.

Other differences, while smaller, are still notable.

Millennial men who were listed as the primary borrower for a home loan were approved for an average of $197,820 in October. This was $11,253 more than Millennial women, who were approved for an average loan amount of $186,567.

Women typically closed their mortgages a day or two faster, but also applied with lower FICO scores.

The average FICO score for a woman purchasing a home was 721, compared to 726 for men. Women who refinanced had an average FICO score of 730, compared to men whose average FICO score was 735.

Ellie Mae provides on-demand software solutions and services for the residential mortgage industry. The company defines Millennials as Americans born in the 80s and 90s.

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