Brandon Hoyles is a product expert at Blend. Prior to Blend, Hoyles served as a loan originator for 17 years in direct lending, mortgage banking and brokerage operations. In his current role, he assists product, engineering and sales teams in building and promoting innovative technologies for the mortgage industry.
The mortgage lending industry is still largely powered by technology that was first introduced before the 2000 dot-com bubble. Why? Realistically, getting a mortgage will never truly be a one-click process, and frankly, it shouldn’t be, but with technology it can be a better, faster process than it is. And while we have a ways to go to get there, these tips can help.
[Subscribers only] Multigenerational living, where two or more adult generations live under the same roof, is becoming a growing trend in the U.S. Currently about 19% of Americans now live in a multigenerational household, the highest level since 1950. That amounts to about 60.6 million adults in 2014, up from 57 million adults in 2012. And homebuilders have taken notice, designing houses specifically catered to this segment.
Would-be homeowners are inundated with picture-perfect examples of new and remodeled homes brimming with upgrades. But in the real world, homebuilders and investors must calculate the rate of return on these sometimes fleeting trends, weighing what buyers want with what they can actually afford. This feature looks at which features buyers of different age demographics consider the most important, and what that means for sellers.
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.