Articles Tagged with ''Millenials''

LoanScorecard hires new digital mortgage strategist

Raj Parekh will strengthen company's technological reach
LoanScorecard, a decision management solution provider, announced Tuesday that Raj Parekh joined the company as its new digital mortgage strategist. The company hopes to tap into the technological needs of millennials navigating the housing market.
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5 tips for Millennials looking for a bank

Make transitioning into adulthood smoother
Many younger Millennials and older members of Generation Z who are establishing financial independence have many options to choose from when it comes to banking. Here are 5 tips that could make finding the right bank easier.
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Wells Fargo: You’re scaring younger generations away

Here’s why young adults may steer clear
[Op-ed] Many Millennials are looking for a trustworthy bank, but will Wells Fargo’s scandalous headlines steer them away? As I approach independence, the bank I choose will set me up for failure or success. While many seem promising, I’m definitely hesitant about this one in particular.
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Millennials face more obstacles to home buying than other generations

Unemployment and debt may be key factors
Millennials are having an especially tough time buying homes. Some say it’s because rent and home prices are too expensive, or that there aren’t enough homes at the lower end of the market. Other people say it’s because they are waiting longer to start families. This report shows the current state of Millennials in the market.
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Report: Millennials not moving out of mom's basement

The number of Millennials living with their mothers is on the rise
A new report from Zillow reveals that more Millennials live with their mothers now than at any other time in the last decade. In 2005, 13.5% of adults age 24 to 36 lived with their moms. That number now is up around 25% now, which means about 12 million Millennials reside in casa de madre.
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The first-time Millennial homebuyer just turned 30

Millennials step up their borrowing game from February to March, yet still have to rent longer
The average Millennial homebuyer just turned 30. According to Ellie Mae's latest report, the average age of a Millennial homebuyer rose from 29.5 in March 2017 to 30.1 in March of this year. Ellie Mae points to the compression of inventory largely due to Baby Boomers aging in place instead of relocating and retiring as the reason for the average age of the Millennial homebuyer to creep up into the 30s.
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Here are Q1 2018's homeownership drivers

Hispanics, Millennials, vacancies
The homeownership rate was not statistically different from last year in the first quarter of 2018. That said, the homeownership rate did increase slightly, in some demographics more than others, and these were some of the driving factors.
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Carrington in the Winner's Circle: Why we launched a nonprime mortgage product

A conversation with Rick Sharga
Executive Vice President Rick Sharga is back at Carrington Mortgage Services. Here he joins Editor-in-Chief Jacob Gaffney for the podcast series In The Winner's Circle and explains why the new nonprime is nothing like the old subprime and how they plan to reach millions of Millennials and turn them into homeowners. Plus, Sharga shares his thoughts on automation in the real estate and mortgage lending spaces. Will Realtors one day be replaced by robots? Get those answers and more in the latest In The Winner's Circle podcast.
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Number of multigenerational households hit all-time high

Surge to 20% of U.S. population
The share of Americans living in multigenerational households, homes with two or more adult generations, hit an all-time high in 2016. And while some demographics are more likely than others to live in multigen households than others, the trend is growing in nearly all groups.
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Ellie Mae: Millennials using conventional over FHA hits all-time high

Millennial share of purchase loans increases
An increasing share of Millennials are now leaning toward conventional financing, rather than FHA, and even hit an all-time high in February. Millennials are also increasing their overall share in the housing market, and are now the largest group of homebuyers in the U.S. as their purchase loans increased to 45% of all closed loans.
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