The average time taken to close a standard mortgage loan is around 5 weeks. This is because, a loan application has to go through more than 30 touchpoints such as assessment of creditworthiness and underwriting tasks before reaching the approval stage. Sometimes the average time can get longer because of some factors that are beyond the control of the lender….
In a post-pandemic new year, the mortgage market is expected to witness gradual growth in the number of homebuyers, listing prices, rents, and lending rates. It would be a busy year ahead for lenders as more sellers would enter the market to meet growing buyer needs. But the opportunities will also set a new bar for operational resilience, forcing lenders…
The pandemic-induced economic uncertainty has resulted in a record fall of home interest rates. This has triggered loan refinance like never before. Swamped with loan refinance requests, mortgage lenders are finding it hard to ensure a seamless refinance experience to borrowers. This blog looks into the key aspects of making refinance a smooth affair. The fall in Interest rates during the…