Dan Magder is managing director of strategic initiatives at Carrington Mortgage Holdings. He focuses on leveraging Carrington’s underwriting expertise and high touch specialty servicing to expand credit availability and work out credit-sensitive assets from other financial institutions. Dan was formerly the founder of Center Creek Capital Group, a single-family rental fund, and before that served as Director of Investments for Lone Star Funds.
At meeting after meeting with mortgage industry executives, government officials ask all of us to expand mortgage availability to underserved borrowers. But those officials caution industry leaders in the very next breath, don’t loosen underwriting standards and return to the go-go days of the credit crisis. Hearing these seemingly contradictory requests, the lending community is left scratching its collective head. But there are ways to bridge the divide.
Every day, people in your community are looking for a new place to call home. But in the age of the digital shift, they are now getting most of that information from their mobile devices rather than more traditional sources.