FinTech’s Influence on Home Financing

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago FinTech’s Influence on Home Financing Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save About Author: Seth Welborn Financing FinTech HOUSING Mortgages 2019-07-22 Seth Welborn The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Economic Growth Nears Historical Average Next: Servicing Success, One Step at a Time  Print This Post Home / Daily Dose / FinTech’s Influence on Home Financing Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Financing FinTech HOUSING Mortgagescenter_img Sign up for DS News Daily Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. July 22, 2019 2,403 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Much of the real estate market has made strides in integrating fintech, but much of the market remains untapped, according to the Urban Institute. Compared with other goods, the online share of all home sales (to owner occupants, investors, fix-and-flippers, and others) is less than 15%, the Urban Institute states in its report, titled “FinTech Innovation in the Home Purchase and Financing Market.”“Every step of the homebuying process is heavily regulated at the federal, state, and local level,” the Urban Institute states. “Despite these barriers, technology has made inroads within specific pockets of the housing market: helping consumers build credit and save for a down payment, search for and purchase a home, shop for and obtain mortgage financing, navigate mortgage servicing, and extract home equity to eventually sell the home.”Fintech firms can cause transformations in two ways: through improved efficiency and through reduced structural barriers. For example, credit scoring firms have enhanced their technology and modeling techniques and incorporated some additional data into the credit scoring process. FICO, for example, is rolling out new programs where borrowers can allow the use of their bank statements, and has arranged for limited use of telecom data for consumers with limited credit histories. While mortgage lenders currently do not take this data into account, Fannie Mae and Freddie Mac are investigating the use of these “alternative data” and, in limited circumstances, will extend mortgages to consumers without credit scores.Post-purchase, insurance start-ups such as Lemonade and Hippo utilize advanced tech to generate quotes and sell insurance online. With the process fully automated, Hippo claims to offer 25% lower premium. Other startups can offer reverse mortgages online, without requiring a mortgage and monthly payments by taking a portion of the house value when the property is sold.“In conclusion, substantial innovation has taken place across the mortgage ecosystem, producing clear benefits for consumers,” Urban states. “But major gaps in the availability of fintech services exist.”Urban expects some of these improvements to take place in the coming years as fintech start-ups mature into more established companies. Find the full report here. Related Articles Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News, Technology Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

admin

Efforts to be made to extend Donegal Gaeltacht scholarship scheme

first_imgNews By News Highland – May 30, 2013 Efforts will be made to see if the Donegal backed Gaeltacht Scholarship scheme can be extended after in excess of 500 people submitted applications for places this year.This week, 34 people were awarded a Gaeltacht Scholarship which is worth a total of 25 thousand euro.Councillor David Alcorn is Chair of Coiste Na Gaelge He says that given the schemes popularity, it would be a boost for the Gaeltacht and the Irish language if more scholarship places were made available:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/davidam.mp3[/podcast] Andrew McGinley says his children are getting him through life Facebook Google+ Pinterest WhatsApp Gardai investigate deaths of two horses on the N56 Facebook Efforts to be made to extend Donegal Gaeltacht scholarship scheme Twittercenter_img Twitter Donegal retains 14 Blue Flags, Lisfannon is not restored WhatsApp Gardai investigate Castlefinn burglary RELATED ARTICLESMORE FROM AUTHOR LUH still not ready to restore IT systems Pinterest Lárionad Acmhainní Nádúrtha CTR to take part in new research project Google+ Previous articleCEO of Galway and Rosscommon group says everyone should be proud of new groupNext articleDonegal has potential to become world class fishing holiday destination – Cllr McGarvey News Highland last_img read more

admin