The Dodd-Frank act was a direct result of 2008 financial meltdown and was brought in force to prevent such crises in the future. While the benefits of the act continue to be debated, the most disturbing fallout of this act is the huge spike in compliance cost. Lenders believe that mortgage is becoming increasingly expensive as they are now required…
If you have been following the population statistics closely, then you will know that millennials are the largest demographic in America today. It is these people who will eventually buy a home someday, opening up a prospect of increased business opportunities for loan officers and mortgage lenders. However, it is not that simple to convince millennials to invest in a…
The 2017s 2nd-Quarter Lender’s Sentiment Survey reveals that more mortgage lenders, compared to 2017s 1st-quarter sentiment survey, have eased credit standards (for government-sponsored enterprise eligible (GSE), non-GSE-eligible and government loans) and are contemplating to further ease the standards in the coming months. The reason is obvious – to qualify more borrowers and boost the sagging mortgage market. As easing of…