In the current mortgage market, loan originators are seeing a decrease in the number of move-up buyers. As traditional buyers, typically consisting of recent homeowners, have been unable to take advantage of historically low mortgage rates, loan originators have had to pivot their focus to first-time homebuyers. However, the current higher than average mortgage rates (approaching 8%) has caused associated increased risk.
In order to mitigate this risk, loan originators have been supporting first-time buyers by way of FHA, VA loans and down payment assistance programs. By leveraging these methods, loan originators are able to adapt to the current market environment, which has been volatile at best.
Main Points:
• Loan originators are seeing a decrease in move-up buyers as mortgage rates approach 8%
• Loan originators are focusing on first-time homebuyers by leveraging FHA, VA loan and down payment assistance programs
• Utilizing these means allows loan originators to adapt to the current volatile market environment
You can read this full article at: https://www.housingwire.com/articles/as-mortgage-rates-near-8-loan-originators-target-first-time-homebuyers/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind.
Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal.
Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances.
While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.