LendingHome, a marketplace lender and HousingWire 2017 Tech100 winner, announced its new one-stop online mortgage designed with the needs of first-time homebuyers in mind.
Matt Humphrey, LendingHome’s co-founder and CEO, and his team built the end-to-end online technology platform and infrastructure to create a smoother customer experience on the front-end and operational efficiencies on the back-end. “With the power of our technology, we designed the next-generation digital mortgage specifically for the needs of digital natives so that they feel confident and in control when financing their first home,” he stated. Through the online mortgage, borrowers can complete a mortgage application within minutes, keep track of their progress in real-time and lock their rate. The new launch also includes educational articles, advice and tools for first-time homebuyers.
The bills address two primary impediments to development of a private flood insurance market: lack of clarity as to what constitutes acceptable private flood insurance; and uncertainty about the effect of private insurance on the continuous coverage requirement. MBA Senior Vice President of Legislative and Political Affairs Bill Killmer noted while the intent of the Biggert-Waters Flood Insurance Reform Act of 2012, also known as BW-12, was for private flood insurance to satisfy the mandatory purchase requirement, lack of clarity in the statutory language had the unintended effect of making it more difficult for lenders to accept private flood insurance policies.