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Vaultedge Newsletter : New toolkit for the economically & socially disadvantaged

Vaultedge Newsletter : New toolkit for the economically & socially disadvantaged
By Vaultedge Marketing • Issue #45 • View online
I was watching Stranger Things Season 4, wherein the kids go hunting the demon that has been plaguing Hawkins at Victor Creel’s old house. The house although dilapidated looks to be a real estate gem in its heydays. The realtor on the block would have had a field day selling the property. According to the National Association of REALTORS®, there are 1,563,502 licensed realtors in the USA, as of May 2022. In the past few years, iBuyers pioneered a new way to sell that “disrupts” the traditional model. But according to Zillow, as of March, they accounted for just 1.3% of existing-home sales. An article on HousingWire presented a very interesting perspective on the existence of realtors and whether they will continue to strive. Personally, as long as people buy houses, realtors will be in business. They ain’t going anywhere.
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The MBA and NFHA recently announced a new online toolkit for mortgage lenders keen to develop Special Purpose Credit Programs (SPCPs). This program permits lenders to offer mortgage credit to economically and socially disadvantaged borrowers. Honestly, this is a consumer-driven market, and mortgage lenders have to meet the expectations of all kinds of borrowers. So, a single mother of two, working two jobs should be able to rent/buy her own home just as Brian, a tech consultant who can afford a plush domain. Of course, there will be limits to the budget, square feet, and locale but isn’t it the ratification of the great American dream to call a house a home?
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In other news, CFPB announced that it was revisiting the QM norms. This is more like a spring cleaning of aged rules that have existed in the market and need a fresh makeover. The bureau will take a fresh look at Trump-era changes to underwriting standards in the QM rule and two long-standing credit card rules. The CFPB is also looking to identify “potential enhancements and changes to business practices” for compliance with rules related to the Fair Credit Reporting Act (FCRA).
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Warren Buffet had said, “If you don’t find a way to make money while you sleep, you will work until you die.” Pretty grim but true nevertheless. What is the point of working till posterity without finding ways to gain the right returns on investment? We thought about this long and hard and created an ROI calculator that helps mortgage businesses gauge their ROI estimates. It’s fairly simple to use and doesn’t complicate your screen with a myriad of charts, graphs, and 101 instructions. Just take a look!
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The week was busy as usual. We were busy demonstrating our Income Analyzer to a client and it makes me elated to share that he felt it’s ‘simple yet effective’. This has been our motto always. We don’t like complicating our products or life. Vaultedge Income Analyzer saves on average 2 to 4 hours of underwriter’s time per loan. The software extracts data from different documents like W2, 1099, pay stubs, bank statements, and tax returns (1040, 1040 Sch C, 1065, 1120, the 1120S) automatically. 
Happy reading!

CFPB plans to review qualified mortgage, CARD Act rules | American Banker
MBA, NFHA Launch Toolkit For Lenders To Help Disadvantaged Borrowers – NMP
Will Realtors ever go extinct? - HousingWire
May Mortgage Application Payments Rise to $1,897 - MBA Newslink
Housing market slowdown takes hold as mortgage rates dig in - The Washington Post
The Creel residence from Stranger Things S4 - real estate heaven or hell?
The Creel residence from Stranger Things S4 - real estate heaven or hell?
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 Vaultedge Marketing

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