From the latest CPI numbers to the recent job openings report, the Clear to Close hosts talk through economic factors that impact lenders and what they mean for the state of the market as we head into the last month of Q3.
Is your lending business prepared for the coming market reset? To thrive in today's conditions, lenders need a fresh game plan driven by home buyer trends, creative lead generation, and data-backed decision making. We put this guide together to help you refresh your thinking for the market ahead: Now is the time to abandon strategies that worked in past cycles and embrace innovative thinking.
Now more than ever, small and midsize lenders need out-of-the-box solutions that are quick to set up, don't require specialized skills or new resources to deploy, and come at a cost that can be scaled based on the current volume of their originations. That's why we're thrilled to offer Maxwell Mortgage Intelligence: a business intelligence platform for mortgage leaders that seamlessly integrates with their existing infrastructure, identifies trends in team performance, and streamlines financial reporting.
Soft credit pulls are inquiries that don't affect an individual's credit score and are often used for background checks, pre-approvals, and other non-lending purposes. These checks are a valuable tool for mortgage lenders since they improve borrower experience while lowering origination costs and improving conversion rates.
Between rapidly rising interest rates, economic uncertainty, and untamed inflation, the last few years have been anything but easy. These challenges make our inclusion on the Inc. 5000 list for the third consecutive year all the more rewarding: Through unpredictability, we've been able to offer lenders a financial advantage to help them weather the storm.
This data report is significant because it gives lenders an exclusive look into the home buyers rising in today’s market: These borrowers are taking 7% rates head-on and creating their own paths to homeownership, whether that means moving to more affordable cities or exploring alternative property types. By examining these demographics, lenders can hone their practices to better serve the home buyers of today—and tomorrow.
During times of reduced volume, it might feel counterintuitive to invest in technology. In an attempt to bolster profitability, some lenders slash costs at every opportunity, opting for a “free” mortgage point of sale (or no point of sale at all). This decision, however, can be costly both in the short and long term.
What seems to be certain in the uncharted realm of AI is that this technology is here to stay. For lenders to stay ahead of the competition and market, they need to understand AI's growing capabilities and connect with forward-thinking partners. Here's what every lender should know.
Artificial intelligence: Is it the efficiency-driving copilot you've been waiting for or an increasingly intelligent force vying for your job? To move past polarizing headlines and unpack the truth, we spoke with someone who lives and breathes technology: Maxwell Co-founder & CTO Rutul Davé.
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