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Institutions are offering home loans to last until you are 80 | News
Britain's largest mortgages financier has chosen to raise its retirement from 75 to 80 as it adjusts to an ageing people. Halifax will introduce the amendment next weekend in reaction to changing "demographics and work habits," The Times has learned. This means that for new mortgages, the duration of the loan may run until the borrower's 80-year anniversary.
With SimpleNexus, you can optimize your mortgages with the integration of FINICITY.
Finnishity, a leader in real-time finacial aggregate information and insight, today announces that it is partnering with SimpleNexus to help automate the checking of borrowers for lender assets using the SimpleNexus Enterprise Digital Management Platform. It will streamline the application procedure for a mortgages and enhance the SimpleNexus customers' ability to obtain credit on the move.
Featuring Finicity's portfolio of lending decision making software products, as well as a Verification of Assets (VoA), lenders have easy acces to the information they need to digitise their lending processes, free up funds, cut down on scams and increase precision. VoA automation helps mitigate borrower irritation and can shorten the time required for verifying a transaction from a few business hours to a few business hours. The SimpleNexus solution provides a single online mortgages application and application that links lenders with borrower and broker, enabling all stakeholders to share information and documentation throughout the life cycle of a mortgages transaction.
Using its smart-phone application, lending professionals can immediately see new loans, retrieve and display loans summary information, run simulated price sceneries, see real-time CRM feedback, and submit pre-approval notifications. Sinicity and SimpleNexus are both part of the Silicon Slopes Utah businesses communities, which have been shaped in the direction of Silicon Valley due to the large number of technology start-ups and high levels of regional sophistication.
It is also an authorised, end-to-end supplier of wealth management reporting within Fannie Mae's Desktop Underwriter® (DU®). Creditors will then receive a Fannie Mae's Day 1 Certainty? financial statement. Fannie Mae is also part of the Single Source Validation (SSV)ilot project, which means that Fannie Mae will use transactions information from Fannie Mae financial statements to generate validation of wealth, earnings and work.
SSV will be introduced more widely this year, building on the Fannie Mae's Day 1 Certainty initiatives.