Mortgages enter the 21st century (Scotsman Guide)

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As most housing professionals know, the mortgage industry typically has been slow to innovate. That has been an issue in terms of dealing with a generation that lives on their phones and the internet.

In that light, the recent announcement of the addition of automatic verifications to Fannie Mae’s Desktop Underwriter platform is a welcome change to the way we process mortgage loans. It feels as if the mortgage industry is finally entering the 21st century as well.

Before discussing how automatic verifications can help open up the millennial market, it is important to try to better understand why millennials are so important to the housing market today.

This is an excerpt. Read the full article in the February issue of Scotsman Guide.