Community awareness of and reckoning with systemic racism following the BLM protests in 2020 appears to have led lenders to reduce the interest rate gap between Black and white borrowers.
Reform efforts in the state have focused on increasing the inventory of residentially-zoned land while leaving unaddressed underlying cost drivers constraining feasibility, according to researchers.
High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.
Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.
Volumes are down and lenders are racing to cut costs, but some of their approaches may not be the best for long-term success, a Stratmor analyst said. He suggested lenders update their LO comp structures.
New research shows that when mortgage companies use minority actors in their TV ads, viewers are more likely to apply for a loan with that lender. Borrowers also showed more brand favorability.
A new paper by Harvard University’s Joint Center for Housing Studies has called for policymakers and mortgage lenders to play a larger role in removing barriers to homeownership for immigrants.
RSS