Lending

Mortgage market update: Lending standards tighten, but business is still brisk
Mortgage market update: Lending standards tighten, but business is still brisk

Four months after mortgage lenders started to tighten their standards in reaction to COVID-19-related uncertainty, Chicagoland lenders say they have yet to see a dramatic slowdown.

Think racial  disparities in  lending are a  thing of the past? Think again.
Think racial disparities in lending are a thing of the past? Think again.

Borrowing money can be a tricky undertaking for first-time homebuyers, but that’s long been the case in communities of color, where disparities in lending are a reality in the industry.

How has COVID-19 changed lending for Chicagoland brokers?
How has COVID-19 changed lending for Chicagoland brokers?

How has the latest drop in interest rates affected the businesses of Chicagoland brokers? Has their relationship changed with their most recommended lenders? These questions and more were answered by readers in our most recent survey.

How COVID-19 may impact multifamily as an investment class
How COVID-19 may impact multifamily as an investment class

Though apartment buildings seem to still be the sweetheart asset, it’s going to be tougher for investors to buy them in the near future, according to Brian Mond of Essex Realty Group.

What mortgage lending will look like in the post-COVID-19 world
What mortgage lending will look like in the post-COVID-19 world

Learn why the foreclosure rate is unlikely to reach the previous recession’s level, though changes in homebuying social norms are here to stay.

Report finds rise in consumer finance complaints during pandemic
Report finds rise in consumer finance complaints during pandemic

The number of financial complaints filed by consumers with the Consumer Financial Protection Bureau has risen dramatically during the COVID-19 pandemic, according to an analysis by LendEDU.

How informed, empathetic lenders and agents can make the difference for  first-timers facing a chaotic market
How informed, empathetic lenders and agents can make the difference for first-timers facing a chaotic market

“We need to remind ourselves that we are all in this together. We’re in a bad spot as a country, and we need to get through this together.” — Tim Brigham, branch manager at Union Home Mortgage

Purchase applications up 18% year over year
Purchase applications up 18% year over year

A new report from the Mortgage Bankers Association points to pent-up demand this spring.

Will COVID-19 push appraisals toward automation?
Will COVID-19 push appraisals toward automation?

Both the way appraisers approach their work and the adoption of AVMs and other technology-based valuations will likely see major changes in the coming years, according to experts.

New condos face deal-stopping hurdle due to COVID-19
New condos face deal-stopping hurdle due to COVID-19

Some transactions are having to start over from scratch because of a paperwork problem. But Cook County’s chief deputy recorder tells Chicago Agent magazine he’s working on a solution.

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