As professionals who earn a living in this industry, it’s our responsibility to let our voice be heard as important decisions are made that will shape the future of mortgage banking. The best policy is made when those of us who have the boots on the ground and work with consumers make our voice heard.
More than any other generation of consumers, today’s homebuyer uses the internet and mobile devices to connect with businesses. When buyers look for homes, they’re turning to real estate apps like Zillow, Trulia, or Redfin. These resources can be a key avenue to market yourself because they put you directly in the line of sight of potential buyers. Another option is to align yourself with a mortgage company that provides apps so you can manage your business on-the-go.
[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.