How Lenders Can Use Social Media to Screen Borrowers
The Power of Social Media in Lending It’s no secret that the use of socialmedia has grown tremendously in recent years. This has triggered the development of numerous social media platforms such as Twitter, Facebook, Google+, LinkedIn, eBay and many more. Consumers both young and old have flocked to use these platforms mainly to connect […]
Lenders and Funding Green Homes
The Financial and Health Benefits of Green homes Should lenders fund green homes? Absolutely! Green building leads to higher profits, and it doesn’t cost that much more than traditional building. Green building standards offer many health benefits and financial advantages. Overcoming Funding Challenges for Green Building Unfortunately, some builders and developers run into problems getting […]
Tips for Mortgage Brokers
Mortgage brokers are licensed professionals whose main job is to solicit potential borrowers and find/negotiate mortgage loans. As a broker, you should have several established relationships with lenders in order to have an array of choices when it comes to loan programs. You are basically the go-between the borrower and the lender throughout the loan […]
Fixed Mortgage Rates Rise
Recently, fixed-rate mortgage rates moved up slightly higher. According to Freddie Mac, the average interest rate at the end of May/beginning of June was 4.12%. Last week, lenders offered 30-year loans at an average rate of 4.14%. The rise occurred during a week the market’s direction was very unclear. A year ago, the interest rate […]
New Qualified Mortgage Rules
The federal government has implemented the new Qualified Mortgage (QM) rules. The implementation of these rules poses many challenges for lenders as they now have to tighten their underwriting norms. On the other hand, borrowers may hardly notice any difference. However, borrowers at the lower and the higher ends of the spectrum may find it […]