Mortgage Finance Gazette’s Post

How do you Increase self service, Reduce Costs and Keep up with others in your space? Find out how 👇

Check out our latest blog post where we offer three reasons lenders should prioritize offering a modern, self-service payment experience: ⬆️ Increase on-time payments ⬇️ Reduce costs 💪 Keep up with the competition Dig in for more details: https://hubs.ly/Q02CVwlK0 #selfservice #payments #lending

The three national credit bureaus have taken steps and are prepared to have ‘Buy Now, Pay Later’ information included in a consumer’s credit history, which is appropriate for lending products that represent a clear extension of credit to consumers. This is good data that can make credit histories more accurate, while also helping consumers build their credit file. With the current opacity around how consumers manage BNPL products, there is a blind spot for lenders, and this could put more consumers at risk.   Read More #BuyNowPayLater https://lnkd.in/edxbAGF6

Trusted by millions of Americans, Lendingtree is an online lending marketplace helping consumers to get great deals on their loans. Discover how they use Thematic to save hundreds of hours transforming customer survey data into valuable insights ⬇️ #cxstrategy #voiceofthecustomer #dataandanalytics #customercentricity #cxmanagement

#BuyNowPayLater is a valuable financial tool that offers flexible, affordable credit to millions of consumers. It should enhance users’ credit scores, not lower them. The typical characteristics of BNPL loans - frequent, short-term, and small-dollar - differ markedly from traditional lending formats, which means that traditional reporting methods are not appropriate for the BNPL industry. We hope to continue working on credit reporting innovation that appropriately captures #BuyNowPayLater and gives consumers the opportunity to build a positive credit profile. Read more from Jordyn Holman and Ben Casselman in The New York Times ➡ https://lnkd.in/edxbAGF6

A new report reveals that while most consumers are satisfied with Buy Now, Pay Later (BNPL) services, many expect these loans to positively affect their credit scores—despite the fact that most BNPL providers do not report to major credit bureaus. This disconnect highlights the need for greater transparency in the BNPL sector, as consumers may be unaware of the true impact on their credit profiles. The evolving BNPL landscape presents both challenges and opportunities for lenders and consumers alike. https://lnkd.in/e2jBebdU

"The benefits to the whole residential property market from empty nesters to first-time buyers shouldn’t be underestimated." In her latest article at the Financial Reporter, our Head of Business Development Jess Rushton discusses how getting the later life proposition right can benefit the whole residential property market. 👉 Read now: https://lnkd.in/eq4Vuk4U #SmartMoneyPeople #LifetimeLending

The rise of Buy Now Pay Later (BNPL) options for consumers has been significant. However, there is a catch - these loans do not appear on consumer credit reports, leading to a lack of reporting and visibility. This has left credit bureaus scrambling to figure out a solution. I want to hear from you. What do you think should be done to reconcile this issue? Would incorporating this reporting hurt the consumer? Share your thoughts in the comments. #BNPL #creditbureaus #consumercredit #finance #FirstSource https://lnkd.in/eFERmYmV

CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans "...Agency’s interpretive rule addresses Buy Now, Pay Later lender obligations to investigate disputes and refund charges.." #bnpl #creditcards #rulemaking #disputes #refunds #consumercredit Consumer Financial Protection Bureau Rohit Chopra

🇬🇧 Did you know that, according to additiv’s Global Embedded Finance Consumer Study 2024, 72% of banking customers in the UK are considering switching to a more innovative financial service provider? For more than half of respondents (51%), innovative products and services are the key factors that convince them to switch banks. With our PriceHubble property data solutions, you can build innovative digital products that help you increase engagement, build long term relationships and convert new customers. 📈 Find out more about why you should leverage PriceHubble data solutions: https://ow.ly/YbG350S6Jjc #UK #Banking #ConvertCustomers #InnovativeProducts #PropertyInsights