[Op-ed] Lenders are doing all they can to get borrowers into their pipelines faster. Speed is a requirement for both customer satisfaction (see J.D. Power & Associates) and to ensure high pull-through rates, which are essential for cutting the overall cost to originate. If the lender can’t move quickly enough, today’s borrowers will go elsewhere in search of home financing.
When Tim Mayopoulos was vetted prior to joining Fannie Mae nearly 10 years ago in the role of general counsel, board members explained it would only take 12 to 18 months for the company to turn around. That isn’t what it took. It took putting Mayopoulos in charge, years later, to turn the company around. And that’s exactly what he did.
HousingWire began highlighting the unsung heroes of the mortgage finance industry three years ago, recognizing those who continue to make the dream of homeownership a reality for Americans nationwide. Our editorial board selected each of these 40 professionals for their ability to not only transform their companies, but the industry as a whole.
Hispanics have huge purchasing power in the U.S. and the rate of homeownership among this population has grown every year since 2014, reaching 46.2% in 2017. In fact, Hispanics are the only demographic in the U.S. to increase homeownership rates for each of the past three years and are driving gains in the real estate market overall. By understanding the unique needs and expectations of the Hispanic community and positioning yourself to fulfill those needs, real estate professionals can become an important servicer of this consumer demographic and experience related growth.