Check out the most recent LenderClose updates in the article previews below.
Team Member Spotlight – Sarah Bond
LenderClose team members come from many different backgrounds and constantly find ways to spark greatness. The Team Member Spotlight series highlights one of our team members each month. This month, the spotlight is on Sarah Bond, assistant vice president of client relations, who has been at LenderClose since August 2020.
LenderClose Continues Growth in First Half of 2021
LenderClose surpassed projected growth and enhanced its offerings to meet growing demand in the first half of 2021.
A growing number of users are now able to offer a faster and more efficient home equity and real estate lending cycle with the use of workflows and automation. LenderClose’s current client roster has grown more than 17% since the end of Q4 in 2020. Now supporting nearly 2,000 individual users, LenderClose has processed 40,668 loans in half a year.
Home Equity Lending Set to Surge as Homeowners Mostly Stay Put
Due to rapidly rising home prices, homeowners have amassed considerable home equity during the past year. And they are increasingly tapping into that equity for home improvements, including backyard sanctuaries.
Keeping the American Dream Alive
Homeownership peaked at about 69% before the Great Recession, according to Embrace Home Loans. The current rate is closer to 65%.
“The dream is very much alive, but it’s changing [with regards to] what things have to happen in order for somebody to become a first-time homebuyer,” said Allen Jingst, SVP of Sales, LenderClose. He added that the homeownership rate among Baby Boomers is in the 70-75% range, while for millennials, that rate is closer to 50%.
How Can Mortgage Lenders Cultivate Top Talent?
The mortgage industry, like other industries, is searching for new ways to attract and retain fresh talent. The challenge is finding qualified people who fit in with the culture of the company and the industry. Today, this can require some creative thinking and hiring methods.