There is still ample opportunity in the market for lenders to rope in refi business, according to a quarterly report published Monday by Sales Boomerang. And the reason for this is two-fold.
The report – which is compiled using data sourced from more than 150 residential mortgage lenders – found that one in 12 borrowers saw “significant home equity growth” in the third quarter.
Plus, the frequency of borrowers searching for the phrase “cash-out” increased by almost 300% from Q2 to Q3. The behavioral data analytics firm says these developments point to the fact that “borrowers have grown their credit scores alongside their equity, details ⇒
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