As part of the pandemic-hit mortgage industry, a 5-year-old New York-based mortgage lending company found itself in deep water for most of 2020. With its presence in 10 major states across the U.S. and operating with over 200 employees, it was a promising direct lender with revenues nearly doubling every year. As a considerably new firm, its customer service was…
Over the past few months, mortgage rates and closed loan volume have surprisingly been on the rise. The possible reasons for this could be the dwindling unemployment numbers since the peak of the Covid-19 pandemic, more people receiving the stimulus check from the government, and the positive outlook of a fast-recovering economy. However, lenders should not assume this good run…
Every few years, the mortgage industry is faced with an unprecedented crisis that threatens several negative consequences for all stakeholders. Often, the effects of such a crisis are felt in the lending landscape for quite some time and it’s usually the federal government that has to rush to support homeowners and protect their interests. As a response to the risks…