When home prices continue to push buyers away from the already scarce inventory, alternatives have to be sought. Among which are pre-foreclosed properties. What are these properties and is it wise in invest in them? Looking for an affordable home can be a challenge for homebuyers especially in major cities in the country. During the past year, home prices have … [Read more...] about How Do You Buy a Pre-Foreclosed Property?
A survey released by the Mortgage Bankers Association (MBA) revealed that the total mortgage applications for newly built homes was higher in October than in any other month so far this year. The Report The Builder Application Survey of the MBA showed that the total number of applications during the month of October rose 16.1% compared to the same period last year. Moreover, … [Read more...] about MBA: Mortgage Applications Surge in October
There are a lot of reasons that can put off a buyer’s decision to purchase a home. It could be a sudden change of employment, a need to build credit, or perhaps more time to save for down payment. Meanwhile, there are those who just want to pounce on the best opportunity to score a deal.What many don’t realize is that delaying could actually cost you more in the long run. … [Read more...] about What Could You Lose When Delaying Your Home Purchase
Mr. Cooper, the mortgage servicing company previously known as Nationstar recently announced that it’s shifting its application process to digital. The company’s target date is set for next year. What does this mean for the rest of the mortgage industry? With companies like Wells Fargo, JPMorgan Chase and United Wholesale Mortgage laying down their digital mortgage platforms, … [Read more...] about On Mr. Cooper and Digital Mortgage
As fintech gradually permeates the mortgage sector, professionals and legislators discuss the security implications of the change.After the massive data breachthat affected credit reporting agency Equifax, what are the legislators doing to ensure that data-holding companies adequately protect consumer information?This very question is what NAFCU Board Treasurer and … [Read more...] about What’s Next for Fintech?