TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1398400
64 | TH E M R EP O RT FINAL THOUGHTS Building Up Hope The quest for the American Dream continues as the flaming-hot housing market faces a severe shortage of properties for sale. Homeowners and potential buyers explore various opportunities and innovations as mortgage professionals seek balance in an unsteady environment. "out of reach" Nicole Bachaud, Zillow Economic Data Analyst on first-time buyers' down-payment difficulties. "a one-legged stool" George Ratiu, Realtor.com Senior Economist, on the ineffectiveness of financing without adequate new construction and affordable inventory. "social sacrifices" Sebastian Sandoval-Olascoaga, Redfin Economist, on factors contributing to a rising homeownership rate among Hispanic Americans. "requirements loosening" Joe Tyrrell, President of ICE Mortgage Technology, on how credit score averages affect the rate of purchase loan applications among the millennial generation. "process transparency" Patrick Burns, CEO and co-founder of Spruce on what is of utmost importance to borrowers as they decide whether to take advantage of modern technologies in homebuying.