The term millennial refers to the population that was born between the mid-1980s and mid-1990s. Millennials have a very different approach towards buying home than the older generation. They turn to Internet to research about lenders and obtain mortgage quotes. Their expectations from lenders are far beyond getting suitable loan quotations and terms. The modern-day millennial mindset is about getting…
mortgage lending
Mortgage lenders have to comply with a range of federal and state regulations. Such regulations are extremely binding and are complex. It becomes an uphill task for lenders to execute all the intricate mortgage lending processes while maintaining strict regulatory adherence. Each year the regulations undergo significant changes that bring fresh sets of complexities for mortgage lenders. In 2022, mortgage…
The mortgage lending process is fraught with increasing number risks. Such risks range from fraudulent loan applications to process loopholes that result in disbursing bad loans. These risks are just the tip of an iceberg. The ongoing Covid 19 pandemic, socio-political strife such as the recent Russian insurgency into Ukraine, and factors alike have continually led the economy into a…