A Fannie survey finds that most recent homebuyers used no online tools to get their mortgage. The use of some digital channels actually declined during the pandemic.
Observers point to forecasts of continued growth in the demographic, especially among young Hispanics aging into household formation and first-time home purchases.
Digital verification of borrowers’ income, employment and assets can significantly reduce the length of the mortgage closing process. And the tech got a boost from the pandemic.
With refi lending expected to wane, lenders are planning to create a faster, more efficient experience for borrowers, according to a new study from Fannie Mae.
But does the bill have the numbers to pass the Senate? Investment banking firm Cowen and Company believes moderate Democratic lawmakers would present an obstacle.
Tomo was founded by two former Zillow executives with a sole focus on purchase mortgages. Meanwhile, three-year-old Lower recently completed a $100 million Series A funding round.