Vendor Search and Tech Tools; Lender Mergers Continue; Global Slowdown Pushing U.S. Rates

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Posted To: Pipeline Press

There are lots of interesting questions out there. “Why didn’t Tarzan have a beard?” for example. Another is, “Do borrowers know about low down payment loan options?” Lenders and LOs should be educating borrowers on the advantages of these in the slow months. And, “Are there any African American-owned mortgage banks?” NAMMBA’s Tony Thompson answered with, “There are several African American-owned banks who usually reside in local minority markets with 3-5 retail branches but they focus primarily on deposits and SBA loans. There is only one African American owned mortgage bank. Utah’s United Security Financial primarily does servicing but originates some residential loans and is owned by Lois Johnson. It is licensed to operate in 49…(read more)

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