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Home Prices Projected to Keep Rising – NAR Forecast for 2021-2030

2023-01-27T13:36:10-08:00loan servicing for private money lenders, private money loan servicing|

It's no secret that the housing market has been on a tear lately, with prices and demand hitting new highs. But what does the future hold? According to a new report from the National Association of Realtors (NAR), the next few years could see even more growth. The NAR's report looks at both the short-term and long-term outlook for the housing market, and both paint a rosy picture. In the short-term, the NAR is forecasting a 5.1% increase in home prices in 2021, followed by a 5.0% increase in 2022. That would put the median home price at around $312,500 by the end of 2022. As for the long-term, the NAR is even more bullish. They're predicting that home prices will rise by an average of 4.1% per year between 2023 and 2030. That would put the median home price at around $413,000 by the end of 2030. So if you're thinking about buying a home, it looks like the next few years could be a good time to do it. Prices are expected to keep going up, but at a slower pace than we've seen recently.

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Current Mortgage Rates & Housing Market Trends: Low Rates Staying Here for the Foreseeable Future

2023-01-27T13:37:35-08:00private mortgage loan servicing, private mortgage servicing|

This article discusses the current state of mortgage rates and the housing market. It cites a number of sources that suggest that rates will remain low for the foreseeable future. This is good news for those looking to buy a home, as they will be able to get a lower rate. However, it is bad news for those who are currently in the process of selling a home, as they will likely have to accept a lower offer.

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Using Borrower Data to Improve the Housing Market: How Lenders are Creating New Services

2023-01-27T13:38:19-08:00loan servicing for private money lenders, private mortgage loan servicing|

Borrower data is playing an increasingly important role in the housing market, as lenders seek to better assess risk and better identify potential borrowers. Borrower data includes information on credit history, employment history, and other factors that can help lenders better understand a borrower's ability to repay a loan. Lenders are using borrower data to develop new products and services that can help them better serve their customers and better manage their risk.

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Investing in Mortgage Tech: Making the Mortgage Process Easier and Faster in the 21st Century

2023-01-27T13:40:07-08:00private lender servicing|

As we move further into the 21st century, it's becoming increasingly clear that "mortgage tech" is something that we're going to have to start paying attention to. It's not just a fad or a gimmick – it's a genuine necessity, and those who are investing in it now are the forward thinkers who are going to be ahead of the curve in the years to come. What is mortgage tech? Essentially, it's any technology that can make the process of getting a mortgage easier, faster, and more efficient. This can include anything from online applications and digital signatures to automated underwriting and fraud detection. The benefits of investing in mortgage tech are obvious – it can make the process of getting a mortgage simpler and more straightforward, which is good for both borrowers and lenders. In addition, it can help to speed up the process and make it more efficient, which can save everyone involved a lot of time and money. So if you're thinking about getting a mortgage in the near future, it's definitely worth looking into some of the new mortgage tech that's out there. It could very well be the key to making the process as smooth and stress-free as possible.

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Freddie Mac to Include Bank Account Data in Underwriting Process – Taking Steps to Better Assess Financial Health of Borrowers

2023-01-27T13:40:28-08:00private loan servicing company, private money loan servicing|

Freddie Mac is set to include bank account data as part of their underwriting process in an effort to better assess a borrower’s financial health. This change is being made in response to the growing number of borrowers who are choosing to bank online and use alternative financial products. By including bank account data in the underwriting process, Freddie Mac will be able to get a more complete picture of a borrower’s financial situation. This will allow them to better assess risk and make more informed lending decisions. This change is scheduled to go into effect in early 2020.

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Federal Appeals Court Rules CFPB Funding Unconstitutional – Impact of Supreme Court Decision

2023-01-27T13:40:42-08:00private mortgage servicing|

A federal appeals court has ruled that the source of funding for the Consumer Financial Protection Bureau is unconstitutional. The CFPB is a government agency that was created in response to the 2008 financial crisis. The agency is tasked with protecting consumers from unfair and deceptive practices in the financial industry. The CFPB is funded by the Federal Reserve, which is an independent agency. The appellate court ruled that the CFPB's structure violates the separation of powers because it gives the agency too much power. The CFPB can only be overturned by a vote of Congress, and the agency's director can only be removed for cause. The decision will likely be appealed to the Supreme Court. If the Supreme Court upholds the ruling, it could have a major impact on the CFPB's authority.

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Equifax to Offer Utility Credit Data to Mortgage Firms in 2019: Increased Transparency and Reduced Risk for the Mortgage Industry

2023-01-27T13:43:09-08:00private money loan servicing, private mortgage servicing|

As a part of its plan to increase transparency and reduce risk in the mortgage industry, Equifax will provide utility credit data to mortgage firms. This move will help mortgage firms better assess the creditworthiness of potential borrowers, as utility bill payment history is a strong predictor of mortgage repayment. Equifax is the first credit bureau to offer this type of data, which will be available beginning in early 2019.

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Stay Up-to-Date on the Changes Between the 2006 ALTA Policies and the 2021 ALTA Policies: Get the Facts Here.

2023-01-27T13:43:37-08:00loan servicing for private money lenders, private lender loan servicing|

The 2006 ALTA policies are set to expire on December 31, 2020. After that, the 2021 ALTA policies will go into effect. Lenders need to be aware of the changes between the two policies in order to avoid any potential problems. The most notable changes are as follows: -The 2006 ALTA policy only insures the lender for the first $100,000 of the loan. The 2021 ALTA policy will insure the lender for the full loan amount. -The 2006 ALTA policy does not cover title defects arising from forgery or fraudulent recording. The 2021 ALTA policy will cover these defects up to $1,000,000. -The 2006 ALTA policy does not cover title defects arising from zoning or other land use violations. The 2021 ALTA policy will cover these defects up to $500,000.

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Reevaluate Your Mortgage Business Origination Tools | Tips & Considerations

2023-01-27T13:44:16-08:00loan servicing for private money lenders, private mortgage servicing|

When it comes to your mortgage business, there are a lot of factors to consider when reevaluating your origination tools. It’s important to make sure that your tools are up to date and that they’re still the best option for your business. Here are a few things to keep in mind when you’re reevaluating your origination tools: 1. Make sure your tools are up to date. This includes making sure that they’re compatible with the latest technology and that they offer the latest features. 2. Consider your business needs. What do you need your origination tools to do? Make sure that your tools can meet those needs. 3. Compare costs. Not all origination tools are created equal. Make sure you compare the costs of different options before making a decision. 4. Get feedback from your team. Your team is the ones who use your origination tools on a daily basis. Get their input on what they like and don’t like about your current tools. 5. Test the new tools. Once you’ve narrowed down your options, test the new origination tools to see how they fit with your business. Taking the time to reevaluate your origination tools is an important part of running a successful mortgage business. Keep these tips in mind to ensure that you make the best decision for your business.

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Understanding Regulation Z: How the Truth in Lending Act Protects Consumers

2023-01-27T13:45:08-08:00private money loan servicing, private mortgage loan servicing companies|

This article provides a brief overview of Regulation Z, which is also known as the Truth in Lending Act. This federal regulation governs the disclosures that lenders must provide to borrowers. The regulation is designed to ensure that borrowers have the information they need to make informed decisions about credit products. The regulation covers a wide range of topics, including credit terms and costs, advertising, and debt collection.

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