What are the two types of lenders who won’t last? Those who don’t use their data. All jokes aside, data is the lifeline that keeps lenders ahead of their challenges. There will never be a time with no struggles to overcome. The way that every financial institution has endured is by planning with data. Who are lending metrics really for? Smaller lenders may think they’re exempt from the rule that businesses need data. That couldn’t …
All across the country, office buildings lie empty. Hotels have closed, some unsure that they will reopen. New constructions have halted, and funding grows scarce. Is this the end of our old way of commercial real estate? Or is it the birth of something new? The initial shock of the pandemic alarmed professionals across the construction loan industry. Complications resulting from COVID-related restrictions and the work from home shift halted office construction projects—lack of business …
Though finance is seeing its peak of online interactions, one sector still lags. Due to a complicated history of legislation, mortgage lending has taken place primarily in person since its beginning. Now, with online finance lagging in the pandemic recovery, how far does mortgage lending have to catch up? Consider how far the process of buying a house has come in the last 20 years. Buyers can find homes as easily online as they once …
For the first time in history, the value of oil dropped into the negatives in April. While it has recovered for now, some are predicting an incomplete recovery at best. In the greater context of post-COVID life, the safest investments will be green. Construction has faced numerous challenges since the beginning of the pandemic. Supply-chain interruptions and rising costs of materials posed a unique set of issues to the industry. While new construction has ultimately …
According to Zillow, new work-from-home jobs could result in nearly 2 million potential home-buyers. According to the study, “Three-quarters of Americans working from home because of the coronavirus say they want to continue if given the option, and two-thirds say they would consider moving if given that flexibility.” Before the pandemic, house options were tied to job locations. Distance work now offers them options in new areas. The study focused on renters earning wages too …
Distance Work Opportunities Could Result in Mortgage Boom Read More »
The pressure to find new homes during the pandemic does not come as a surprise. With mandatory lockdowns, individuals and families are finding themselves behind closed doors more than ever before. Schools and universities are delaying or even cancelling in-person classes. Space is tight, stress is high, and naturally, people are seeking new opportunities to be comfortable in their space. Following this push, sales of new homes have reached a 13-year high. Naturally, wealthy individuals …
After months of uncertainty, we are finally beginning to see the light at the end of the tunnel following the COVID-19 pandemic. Every industry faced intense change. Some particularly stood out for their ability to adapt and even thrive during the pandemic. Outstanding resilience shown by transportation, healthcare, and food production did not go without praise. However, banking and finance still have much to learn going forward. The financial services that stood out the most …
Finance’s Lessons Learned from the COVID-19 Pandemic Read More »