Timothy Moreland is senior vice president at ATPR. ATPR provides technology based solutions for the real estate lending and settlement services industry. Tim can be reached at email@example.com
To some degree, the Millennial homebuyer market, especially the first-time homebuyer, must seem like the Holy Grail or a unicorn herd to mortgage lenders. It’s a large segment with an estimated purchasing power of about $200 billion. So what does this mean for those seeking to sell mortgage loans to Millennials?
The likelihood that we are facing yet another refinance volume spike in the wake of Brexit is a good news/bad news scenario for many mortgage lenders. Of course, any surge in orders means a surge in revenue, which is generally very good news. In order to ensure a positive outcome, stick to this advice.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.