IN THE NEWS:
Education and Marketing Needed to Bring Would-Be Borrowers Into Market
According to a by CoreLogic, there was nearly a 50% drop in loan originations in the past decade, but the drop in originations has also correlated with a decline in loan applications. What's even more telling, loans originated during Q4 2016 were some of the highest quality (low credit risk) mortgages since the Millennium.
While one might think this is due to tight underwriting standards, the CoreLogic data shows that most people applying for loans are in the 750 and above credit range, and originations are simply keeping up with application demand.
In other words, tight underwriting is likely not the culprit. Archana Pradhan, economist for CoreLogic, suggests the issue is likely, "the result of potential applicants, particularly borrowers with less-than-perfect credit, being either too cautious or discouraged from applying for a loan..." This apprehension may be due to misconceptions about lending standards, such as needing perfect credit or requiring 20% down to purchase a home.
Contact me to discuss how I can help you educate your customers about homeownership and home financing programs available today.
Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve. I would also lose touch with my past clients and would not be available to help where needed. I take pride in working personally and individually with each of my clients. Once you are my client, you will work me from the beginning to the end of the transaction. When you call, you will get me directly, not my assistant or secretary. I have been a financial and real estate consultant for the past 30 years and have specialized in loan loss mitigation, short sale negotiation and REO marketing since 2005. I know how to negotiate contracts and navigate through the most difficult transactions. I am a member of, and Certified by the National Association of Realtors as a Short Sale and Foreclosure Resource, and Broker Price Opinion Resource. I am a Member of, and Certified by the California Association of Realtors as a Certified Home Affordable Foreclosure Alternative Specialist. I am a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Pre-Foreclosure Specialist and Certified Default Advocate. For more please go to my LinkedIn Profile. Thank You!! And I look forward to hearing from you!