Now more than ever is a prime opportunity for mortgage companies to create greater diversity amongst industry leaders. As a new generation of homebuyers emerges, one in which millennials, Hispanics, and single women will be key players, it’s vital that the leadership within the industry become more reflective of the population that it’s serving. Becoming more diverse is not only the right thing to do, but it makes good business sense.
New American Funding to Lend $25 Billion in New Mortgages to Hispanic Borrowers
New American Funding, a national mortgage lender, joins the National Association of Hispanic Real Estate Professionals (NAHREP) in their commitment to increase Hispanic sustainable homeownership, and triple Hispanic household wealth in the next decade.
What Do You Get When a Latina Runs a Mortgage Bank?
When some people think of mortgage banking, they might have ideas of it being boring, monotonous, or simply unexciting. They may figure it’s nothing but a bunch of numbers, regulations, and loans all day, right? So, how much fun is there? Well, it all depends on which mortgage company you’re talking about and who’s running the show. What may have once been looked upon as a not-so-interesting industry, can turn into a modern-day, family-fun business; that is of course, when a Latina takes the reins.
The Process Shouldn't Be Painful! De-Stress Yourself By Being Prepared
Selling or buying a home can lead to a substantial level of stress. Between preparing for the process and negotiating offers with other parties, real estate can leave you wondering why you even embarked on this journey in the first place. If this is your first time selling or buying a home, the stress might be even more overwhelming because in addition to typical tensions that are common of the process, you are also trying to learn along the way.
How To Attract The Largest Group Of Homebuyers
More young adults are becoming interested in owning real estate property. Knowing what features they want to see in homes can help drive home sales. Whether you are a real estate agent showing homes to millennials or a current homeowner looking to sell your property, having a concrete understanding of what appeals to this demographic can help improve the likelihood of selling a house.
How To Not Ruin Future Business Opportunities
Networking with Real Estate Agents requires you to be strategic, given the RESPA rules regarding professional relationships. While working relationships and even joint advertising is allowed, neither party can benefit more from the relationship on a transaction than the other. This discourages Real Estate Agents from maintaining “preferred vendors” lists. However, they can still provide a list of lenders they have had good experiences with to clients who ask for one.
Understanding Your FICO Credit Score
Many of your financial investments depend greatly on one small three-digit number. Your FICO score dictates what kind of loans you receive and ultimately the purchase you can handle. It is important to be cognizant of your FICO score and know whether you need to make improvements to your credit. What is a FICO score? The National Association of Realtors noted that a FICO score ...
Knowing how much you can spend on a house
If you have decided to purchase a home, you may wonder how to establish your budget. There are a number of factors to think about when you buy real estate. Know what to consider and techniques you can adopt to help ensure affordability. Before the budget The interest rate affixed to a home loan may impact what you will be able to afford. CNN Money recommended improving your ...
Why every loan officer should know how to underwrite
Every Loan Officer works with Underwriters. They are the people who determine whether a client is safe enough to lend money to, while the loan officer is often the one to tell the client the underwriter's decision. From a client's perspective, the relationship between a Loan Officer and an Underwriter might seem confusing. They may never meet the Underwriter, and only ever spe ...
Why real estate agents need their own mobile apps
It is no secret that a whole lot of people are obsessed with their mobile devices. Americans spend an average of 4.7 hours per day on their phones. Of course, they aren't just using them to chat with their friends anymore. Mobile devices have become the go-to source for pretty much everything. Nowadays, consumers use their phones to book appointments, research restaurants, shar ...