{"items":["5fda2139745c6500178fd137","5fda2139745c6500178fd138","5fda2139745c6500178fd139","5fda2139745c6500178fd136","5fda2139745c6500178fd135"],"styles":{"galleryType":"Columns","groupSize":1,"showArrows":true,"cubeImages":true,"cubeType":"max","cubeRatio":1.7777777777777777,"isVertical":true,"gallerySize":30,"collageAmount":0,"collageDensity":0,"groupTypes":"1","oneRow":false,"imageMargin":32,"galleryMargin":0,"scatter":0,"rotatingScatter":"","chooseBestGroup":true,"smartCrop":false,"hasThumbnails":false,"enableScroll":true,"isGrid":true,"isSlider":false,"isColumns":false,"isSlideshow":false,"cropOnlyFill":false,"fixedColumns":0,"enableInfiniteScroll":true,"isRTL":false,"minItemSize":50,"rotatingGroupTypes":"","rotatingCropRatios":"","columnWidths":"","gallerySliderImageRatio":1.7777777777777777,"numberOfImagesPerRow":3,"numberOfImagesPerCol":1,"groupsPerStrip":0,"borderRadius":0,"boxShadow":0,"gridStyle":0,"mobilePanorama":false,"placeGroupsLtr":true,"viewMode":"preview","thumbnailSpacings":4,"galleryThumbnailsAlignment":"bottom","isMasonry":false,"isAutoSlideshow":false,"slideshowLoop":false,"autoSlideshowInterval":4,"bottomInfoHeight":0,"titlePlacement":"SHOW_BELOW","galleryTextAlign":"center","scrollSnap":false,"itemClick":"nothing","fullscreen":true,"videoPlay":"hover","scrollAnimation":"NO_EFFECT","slideAnimation":"SCROLL","scrollDirection":0,"scrollDuration":400,"overlayAnimation":"FADE_IN","arrowsPosition":0,"arrowsSize":23,"watermarkOpacity":40,"watermarkSize":40,"useWatermark":true,"watermarkDock":{"top":"auto","left":"auto","right":0,"bottom":0,"transform":"translate3d(0,0,0)"},"loadMoreAmount":"all","defaultShowInfoExpand":1,"allowLinkExpand":true,"expandInfoPosition":0,"allowFullscreenExpand":true,"fullscreenLoop":false,"galleryAlignExpand":"left","addToCartBorderWidth":1,"addToCartButtonText":"","slideshowInfoSize":200,"playButtonForAutoSlideShow":false,"allowSlideshowCounter":false,"hoveringBehaviour":"NEVER_SHOW","thumbnailSize":120,"magicLayoutSeed":1,"imageHoverAnimation":"NO_EFFECT","imagePlacementAnimation":"NO_EFFECT","calculateTextBoxWidthMode":"PERCENT","textBoxHeight":231,"textBoxWidth":200,"textBoxWidthPercent":50,"textImageSpace":10,"textBoxBorderRadius":0,"textBoxBorderWidth":0,"loadMoreButtonText":"","loadMoreButtonBorderWidth":1,"loadMoreButtonBorderRadius":0,"imageInfoType":"ATTACHED_BACKGROUND","itemBorderWidth":2,"itemBorderRadius":0,"itemEnableShadow":false,"itemShadowBlur":20,"itemShadowDirection":135,"itemShadowSize":10,"imageLoadingMode":"BLUR","expandAnimation":"NO_EFFECT","imageQuality":90,"usmToggle":false,"usm_a":0,"usm_r":0,"usm_t":0,"videoSound":false,"videoSpeed":"1","videoLoop":true,"jsonStyleParams":"","gallerySizeType":"px","gallerySizePx":1000,"allowTitle":true,"allowContextMenu":true,"textsHorizontalPadding":-30,"itemBorderColor":{"themeName":"color_11","value":"rgba(255,255,255,1)"},"showVideoPlayButton":true,"galleryLayout":2,"calculateTextBoxHeightMode":"MANUAL","textsVerticalPadding":-15,"targetItemSize":1000,"selectedLayout":"2|bottom|1|max|true|0|true","layoutsVersion":2,"selectedLayoutV2":2,"isSlideshowFont":true,"externalInfoHeight":231,"externalInfoWidth":0},"container":{"width":720,"galleryWidth":752,"galleryHeight":0,"scrollBase":0,"height":null}}
NEW Direct Lender Search
Search By Loan Program
Who's The Best ALT Lender
Follow "THIS JUST IN"
Editorials & Opinions
7 Ways Mortgage Lenders Can Become Leaders in the Millennial Lending Market
In today's mortgage lending market the millennial generation presents an opportunity for lenders to capitalize on a emerging new market. Almost 91 percent of the approximately 87 million millennial “would be” home buyers planning to own a home in the future. This is a huge market opportunity and mortgage lenders can effectively approach and engage this demographic in the alternative lending market in three ways. Many millennials share similar traits. They represent not only a cultural transformation but also a shift in the way this generation views its housing needs and wants. Millennials are educated but cash-strapped. Many are well educated but have high levels of student loan debt. In the U.S. alone, the average graduate in 2016 has $37,172 in student loan debt, a six percent increase from 2015. Millennials are tech savvy and diverse. They are accustomed to having instant access to data and are capable of conducting massive research and demand results quickly. The generation’s influx of immigrants also makes it a diverse population. This is a bonus market of over 12 million potential borrowers. They buck the traditional major milestones. They are slow to buy a house, get married and having children,thus needing alternative lending programs.
Lenders can attract millennial home buyers
Lenders looking to rebound in the real estate market will need to address millennials’ specific needs in order to remain ahead of more digitally enhanced competitors.s.
-
Upgrade current technology and lending infrastructures
-
Offer e-delivery of loan documents
-
Build website portals and mobile apps to ease document emails
-
Provide real-time status updates on the loan process
-
Alternative lending product increased selection. Challenge traditional products. Focus less on debt burdens millennials face.
-
Offering a more robust selection of stated no doc loan products.
-
Provide financing for foreign nationals and immigrants
-
Offer multi-family products. Many millennials love share housing
-
Loosen or drop usual credit standards, Asset based loans
Becoming a leader in the Alternative
Mortgage lending market must come with an internal shift of product strategy and current systems to a full digital format. - Editorial Board .