mortgage super lien laws
April 24, 2015

The Mortgage Industry Should Tailor a Strategy to Combat Super Lien Laws

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Mortgaged property in shared interest communities always pose a big threat to lenders. As per the rules, property owners need to pay periodically to their associations towards community maintenance. If existing owners fail to clear the dues, then under state super lien laws, lenders become liable for the unpaid dues. Over the years, distressed shared communities have made complete use of the law to shift the responsibility for unpaid due to lenders. Given that delinquent mortgages and unpaid due

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Understanding borrower behavior
March 31, 2015

Understanding Borrower Behavior: What the Lending Industry Needs to Do

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Understanding and predicting borrower behavior has always played a major role in the lending business. Despite its clinching role, the mortgage industry, has never had a sophisticated mechanism in place to analyze borrower behavior. This, even after the lesson learnt in 2008, when default rates ruined the country’s economy. Credit score —a tool developed in the 1980s—still happens to be the deciding factor in determining the creditworthiness of an individual, thus leaving the industry at t

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lenders going digital
March 19, 2015

Going Digital Can Help Lenders Deliver a More Customized Experience

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In the mortgage industry, the one thing that is critical to a lenders business is customization.  As lenders have to build their business around distinct customer segments, customization can transform the borrower-lender relationship into a personalized experience that customers crave for. But what does personalization mean for the lender? It means engaging with the customer in their preferred ways at different touch points. In the traditional form of engagement it would mean the lender visi

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