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Underwriting, Forbearance, One-time Close, Marketing Tools; Loan Processing Changes

Posted To: Pipeline Press

Loan officers are known for “holding the hand” of their borrowers. Now Google would like to hold the other. With the help of the CFPB, and launched yesterday, searching “mortgage” in Google on one’s phone will lead to Google explaining what a mortgage is, terms to know, recent rates, what one can expect to pay, and more. Probably not shown is the flip side of the coin. For example, 30 day delinquencies increased to 6.1% of all mortgages during the month of April, according to CoreLogic . This is up 2.5% from April 2019. “The COVID-19 pandemic has shocked our economic system and led to unprecedented job loss, reducing the ability of affected families to make their monthly mortgage payments. The latest forecast from the CoreLogic Home Price Index shows prices…(read more)

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