TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/779439
MNOTES F or some time, the mortgage industry has been trying to lure in the millennial homebuyer—that elusive, stubborn consumer who just won't bite the hook and settle down. In this month's MReport, we look at this issue from all sides. We examine the millennial mindset, we analyze the hurdles and barriers holding them back from homeownership, and we devise ways to better reach, relate to, and connect with this new generation of buyers. First up is our cover story from Mirasha Brown. In "Building the Millennial Buy-in," our own resident millennial gets candid with her peers, talking the American dream, student loan debt, and other obstacles she and other young, potentials buyers face. She also looks at what lenders can do—and some are already doing—to better address these obstacles and draw in a new group of homeowners. In "Marketing to Millennials," Waterstone Mortgage Corporation's Lisa Fenske delves into the nitty-gritty of the millennial mind. What are their preferences? What traits and characteristics do they share? What do they look for when buying a home or making a large transaction in general? After examining these issues one by one, Fenske offers up easy, effective marketing techniques you can implement right now. As finances are often the only thing standing between millennials and their dream home, in "Lending Outside the Box," Eloise Schmitz of LoaNEX considers expanding what's deemed "creditworthy" to better include this huge potential market. And in "E's of Use," Brian A. Lee looks at digital mortgages, yet another incentive that could pull in the millennial buyer in 2017. But expanding credit boxes and more millennial buyers aren't the only things we may see more of in 2017. In "The Non-QM Comeback," John Levonick from Clayton Holdings poses the question: Could 2017 be the year the non-QM loan prospers? Finally, we've also included a comprehensive industry e-lending guide in this month's issue. I hope it makes finding digital service providers in your area simple and seamless. All my best, Rachel Williams Editor-in-Chief 2 | TH E M R EP O RT EDITOR-IN-CHIEF Rachel Williams ONLINE EDITOR Brian Honea ONLINE CONTRIBUTORS Mirasha Brown Scott Morgan COPY EDITORS Krista Franks Brock Alison Rich Aly Yale CONTRIBUTORS Lisa Fenske Brian A. Lee John Levonick Eloise Schmitz CREATIVE DIRECTOR Jason Stone ART DIRECTOR Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Robyn Clayton (214.525.6716) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) Robert Rakowski (214.525.6783) PHOTOGRAPHER Chris Bolton CORPORATE OFFICERS CHAIRMAN & CHIEF CREATIVE OFFICER Mark Hulme PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER John Harrison DIRECTOR OF HR/ACCOUNTING Ernest Gillespie ART DIRECTION Jason Stone Sean Walker Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2017 REO Publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. © 2011 First American Financial Corporation and/or its affiliates. All rights reserved. YOUR business is OUR business! First American Mortgage Services is laser focused on mitigating YOUR cost, risk and exposure by aligning our advanced solutions with YOUR strategic objectives and compliance needs. We are the New First American, over 120 years young, strong and financially secure. Insight | Innovation | Integrity First American Title Insurance Company and First American Mortgage Services make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. FIRST AMERICAN and FIRST AMERICAN TITLE are trademarks owned by First American Financial Corporation. 2 | Th e M Rep o RT Publisher Jon Ball contributing editor Abby Gregory online editor theMrePort.coM Ryan Schuette coPy editors Alison Rich emily White Youree heather hill contributors phil Britt Bob Calandra eric Fox Jack Konyk Mark Lieberman creative director Jason Stone art director Jonathan Won associate art directors Bruce Sons Chanyanont Loha-Unchit design director Sean Walker advertising Dina Duncan (214.525.6740) Jason Myers (214.525.6760) Andi Zimmerman (214.525.6724) technology Toby Tull Brandon Shangraw social Media Leon McKenzie Ani Vera circulation/corresPondence Celina Avila corPorate officers chairMan & chief creative officer chief executive officer Mark hulme edward R. Delgado business develoPMent Andi Zimmerman chief financial officer John harrison director of huMan resources ernest Gillespie director of oPerations Toby Tull account executives senior account executive Donna Lott (214.525.6792) sPonsorshiPs Jason Myers (214.525.6760) account executives Renee Charles (214.525.6742) Thomas Griffin (214.525.6754) Kristin Larson (214.525.6713) Ryan McLemore (214.525.6706) Marketing Travis Bogdon Matt hulme Production Kyle Curtis Miguel Martinez Christian McCrossan concierge Celina Avila art direction Jason Stone Sean Walker Jonathan Won No part of this publication may be reproduced without written permission from the publisher. ©2011 Reo publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. FORDEFAULTSERVICINGPROFESSIONALS THEFIVESTARINSTITUTE Follow us. The Next Generation