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.

Real Estate

When it comes to their home, Millennials are picky

This is what they had to say

For the generation that is waiting the longest to buy a home, they appear to be the pickiest too.

According to a new data set from the National Association of Home Builders, Millennials care just as much (if not more) about what they want in a house rather than what they need.

And even though Millennials carry loads of student debt, they still want to live out the American Dream in a home, whether it’s rented or not.

The NAHB asked recent and prospective homebuyers about the features they want in a home and a community. Homebuyers were asked to rank more than 175 features in a home on a four-tiered scale of do not want, indifferent, desirable, and essential/must have.

The most popular specialty room, other than a bedroom, bathroom or kitchen, is the laundry room, with 50% saying it’s an essential while 36% said it’s more desirable.

On the bottom of the necessity list is breakfast nook and sunroom. Of those surveyed, 19% said both were an essential and 39% it’s just a desirable.

Having multiple family rooms was also at lower end of the list of desirables, with 24% saying a separate living room was an essential and 37% saying it was a desirable; 23% said a separate family room was an essential and 39% said it was a desirable, and 22% said a study/den/library was an essential and 41% said it was desirable.

Across generations, Millennials, Generation X, Baby Boomers and Seniors all agreed that an exercise room, media room and game room were a desirable.

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3d rendering of a row of luxury townhouses along a street

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