Higher Interest Rates Are on the Way. Will They Drive Down Mortgage Biz?

Interest rates are always an issue when purchasing a home. This year, they may be an even bigger issue. “Mortgage brokers are telling buyers that rates are rising, and if they are planning on buying, they need to be doing it as soon as possible before rates go up,” says Linda McCoy, board president of National Association of Mortgage Brokers (NAMB). If you finance the purchase of a property, as opposed to paying for all of it with cash, a mortgage interest rate is what it costs you per month to finance your home/property. “Your interest rate is effectively the lender’s compensation for letting you use its money to purchase your property,” says Aly J. Yale in an article for…

NAMB And SRE.com Announce Online Marketplace

The National Association of Mortgage Brokers (NAMB) and global technology provider SRE.com are partnering up to build an online marketplace for borrowers to choose their own mortgage loan originators. The SRE marketplace will allow borrowers to browse the profiles of mortgage loan originators across the US based on search terms for property type and expertise, as well as read reviews posted by other users. Site reliability engineering (SRE) replaces operations teams who manually update websites with software that can automate tasks and manage systems, resulting in an easily scalable and reliable product. “This new online destination will be the industry’s first true borrower-facing portal, where consumers can choose the professionals they want to serve them based on the actual experience…