LendingHome Week in Review | April 21, 2017
LendingHome’s Week in Review is here to provide you with news that you might have missed this week.
Homeowners Seeking Both a High-tech and Human-touch Mortgage Experience, Ellie Mae 2017 Borrower Insights Survey Finds
According to survey findings by Ellie Mae, 57% of homeowners completed their latest mortgage in person, 28% applied using a combination of online and in-person meetings, and 11% applied completely online with no in-person interaction.
The survey asked what would have improved the process and 40% said they wanted a faster process with fewer delays. 20% wanted a shorter and easier to understand applications while 11% asked for more lender communication.
The study showed that even with more online lenders, the main method of selection was still referrals.
Home construction slows moving into spring home-buying season
“Despite the increase in need at the start of the spring home-buying season, housing starts fell in March, according to a joint report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.”
“[S]ingle-family authorizations in March decreased 1.1% to an annual rate of 823,000, down from February’s 832,000. This isn’t good news for real estate’s inventory-starved market that is about to enter one of the strongest spring home-buying seasons in recent memory.”
What’s in it for Me? Real Estate Investment Technology
Finovate takes a look at the online real estate investment landscape and compares 14 companies over 3 categories: crowdfunding, cash flow share, and match-making platform. The comparison covers the model, returns, minimum investment, and more.