Changing interest rates can have a profound effect on your mortgage lending volume, increasing the pressure to generate accurate forecasts around your staffing needs, servicing portfolio, net income and product mix.
Predicting what comes after an interest rate change may seem like a high-stakes guessing game, but mortgage lenders using Alight’s dynamic analysis can get critical visibility into their breakeven point and know what funding levels they need to maintain profitability. These executives can also forecast general and administrative expenses and branch profitability with every change.
While no one has a crystal ball when it comes to planning, those who have the capability to perform dynamic analysis by running multiple ‘what-if’ scenarios can plan for any number of contingencies and proactively manage their business rather than reacting to changing conditions.
Without dynamic analysis, you are left to evaluate the impact of changing economic conditions using actual performance. Assuming conditions start to change in January, most companies begin their analysis in mid-to-late February after the January books have been closed.
This means you could be almost two months behind the curve when it comes to adjusting to economic changes. As the Federal Reserve shifts back into a more “normal” mode of setting interest rates, a two-month lag time could spell disaster for mortgage lenders making critical business decisions.
Alight provides you with the ability to evaluate...
The more the industry gets accustomed to digital mortgages, the more areas it will need to expand into.
At the beginning of 2015, Kelly Adkisson, a managing director at Accenture Credit Services, explained that her company was seeing a clear change in customer demographics and needs, and lenders had to adapt.
"Millennials are expecting different services and capabilities from lenders,” she said. Accenture’s research suggests the emergence of a new high-value customer segment – “Generation D.” Generation D spans age groups and encompasses people who are deeply digital, integrating online and social media into the fabric of their lives.
Now that a year has gone by, Adkisson updated HousingWire on what the industry can expect for digital mortgages going forward.
HW: How have you seen digital mortgages take off this year?
Adkisson: After largely achieving compliance with TRID this year, lenders are pivoting to focus on customer centricity. The mortgage industry has stepped up efforts, as it must, to adopt digital capabilities to deliver a better customer experience. Greatly influenced by digital innovation that powers other aspects of their lives (think Uber and Amazon), borrowers, in turn, are rewarding lenders who offer convenient, simple, speedy, on-demand and personalized service.
Lenders are trying to understand what customer experience they want to drive at each point in the mortgage journey. Then they can determine which digital capabilities to invest in, including...
Along with enjoying holiday festivities and spending time with your family, you might want to add shopping for a home and even selling your home to your list of things to do right now.
According to Sharon Voss, president of the Orlando Regional Realtor Association, the holidays are a great time to buy a sell a home for these reasons.
Here are four reasons for both sides.
Why the Holidays are a great time to sell:
1. Less inventory.
Selling a home during the holiday season can seem like too much of a hassle for many homeowners, so many will either take their home off the market or wait until the warmer months to list. However, listing now can be advantageous. Because of the shortage of inventory during the holiday months, sellers may receive more interest in their property and can ask for a higher price on their homes.
2. Motivated buyers.
House hunting in the winter is not for the faint of heart. Most home buyers who are still cautious about pulling the trigger and purchasing a home will postpone their search until the Spring. On the contrary, if a buyer is touring homes instead of celebrating the season with friends and family, they are likely more motivated and need to buy a home soon which means they might be willing to pay more.
3. Control of showings.
Homeowners can set a strict showing schedules with their real estate agents, complete with blackout dates and times that won’t work for your schedule. Your Realtor can enforce the schedule and make the process go...
From installing new cabinet doors to renovating old furnishings, there are many ways to modernize and brighten your kitchen without committing to a complete renovation. Painting, changing cabinet doors and drawer pulls, or adding a kitchen island are all options that you can use to modernize your kitchen. By choosing colors, patterns and styles that you really love, you can transform your kitchen into the most-loved room in the home.
New Look for Old Cabinets
Cabinetry can be updated rather than replaced when you are looking for an easy way to modernize your kitchen. Install glass pantry doors with recessed lighting to turn a stack of antique dishes into a display, or refinish the countertops with a bright new color to change the look of the cabinets. Add new drawer pulls after installing new cabinet doors to tie the theme of the room together.
Painting is an easy and affordable way to modernize your kitchen. Opt for bright colors, like yellow, to create an open, friendly atmosphere, or choose deeper colors, such as red, to make the space cozy and inviting. Bright white is a classic option that lasts for several years, even when you change the decor in your home often. Don’t be afraid to experiment with color. Deep aqua, for instance, may not be a traditional color for the kitchen, but works just as well as yellow or white when paired with matching decor. Freshen the trim in a complimentary color to finish the project.