Borrowers seek familiar when choosing lenders
Article Abstract:
A survey of consumer behavior in selecting housing financiers reveals that almost half of the respondents chose a lender with whom they have had a previous professional relationship. The study was commissioned by Citicorp Mortgage, Inc. and is entitled 'Americans Talk About home Mortgage Providers.' The study highlights that only 27% choose a lender due to name recognition and 31% choose referrals as compared with 47% who have had previous or existing relationships with the lenders.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1997
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The promise of automated underwriting
Article Abstract:
Automated underwriting can vastly improve the housing-finance system in America by streamlining the process, cutting costs and increasing home ownership. Under an automated underwriting system, such as Freddie Mac's Loan Prospector, a lender encodes the application information submitted by a borrower into its computer system, which gathers more information on the applicant from credit databases. A comprehensive evaluation that examines the riskiness of the loan is then performed.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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Market trends: past is prologue
Article Abstract:
The prognosis for the mortgage market for the rest of the 1990s is promising. As evidenced by macroeconomic standards, the overall economy is providing a cooperative backdrop for the market. It is performing well enough to encourage increased housing demand and house-price appreciation without risking to lose single-digit mortgage rates. Aside from the economy, competition and technology are also playing a role in ensuring a bright future for mortgages.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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