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» VISIT US ONLINE @ DSNEWS.COM 25 MORTGAGE SHOPPING TURNS HI-TECH Study finds online technology is likely to play a larger role in the mortgage process. A recently released borrower survey on shopping habits shows increasing reliance on online tools when mortgage shopping, though many still find the learning curve too steep. Fannie Mae's Economic & Strategic Research Group released the findings from its latest topic analysis. e data was taken from consumer survey results from throughout the second quarter of 2013. According to the group, the collected data show higher income borrowers—those earning at least $100,000 per year—are more likely to use online applications to make their own mortgage calculations, while low earn- ers—those making less than $50,000 annu- ally—rely more on real estate agents, lenders, and advice from family and friends in making their borrowing decisions. In addition, when asked for suggestions in making the shopping process easier, high- income borrowers focused more on the tech- nological side, with most saying they would like an improved way to compare multiple loan offers. On the other hand, low-income consumers were more likely to say they want easier-to-understand loan terms and costs. "Higher income borrowers are using online shopping approaches about twice as frequently as lower income borrowers, which aligns with a stronger focus on doing their own calculations and using tools," the re- search group's business strategy director, Steve Deggendorf, said. However, Deggendorf noted, all income groups said they would like to make greater use of the Internet than they currently do, "in- dicating that online technology will likely play an increasingly larger role for all borrowers in the mortgage shopping process and presents opportunities for shopping enhancements." "Enhanced online tools . . . could help consumers of all incomes to become better mortgage shoppers and achieve better out- comes by addressing the issues they think will make the process easier," he added. Resolve's multiple borrower contact strategies have been developed and proven over the last 30 years and lead the industry in effective right party contact. Our skilled team re-establishes open communication so that mutually acceptable options can be discussed and successfully implemented. Resolve Solution Services Corporation: Minority Owned Small Business SAS 70 Type II Certified Fully licensed Debt Collector nationwide FDCPA Certified and compliant Decades of success in mortgage loan servicing Resolve's loss mitigation efforts lead the industry: » Re-establishing Borrower Communication » Live phone transfers to your staff » Multi-tier Skip Tracing » Door Knock Services » Loan Modification Document Completion » Short Sale Facilitation » Deed-in-lieu Programs » Cash-for-keys Programs » Pre-foreclosure Auctions » Charge Off Collection » Borrower Informational Interviews » Completing Borrower Budget Forms » Occupancy Verifications Your borrowers will call us back. Resolving homeownership issues begin with borrower contact and communication. Resolve leads the industry in both borrower outreach and borrower contact success. mnewell@resolvessc.com || 214.334.2268 Your Borrower Outreach and Customer Contact Specialists