A research study conducted by Fannie Mae and the University of Southern California (USC) looks at millennials and homeownership from a new perspective. The study compares the past and current home buying behaviors of young adult homebuyers using cohort analysis rather than age-group analysis. And the study reveals that millennials have actually been changing their…
No, it’s not floods, tornadoes, or alligators, but interest rates are the common denominator among home buyers these days. Data Shows Buyer and Owner Anxieties According to a Berkshire Hathaway Home Services survey, eight in ten prospective home buyers thought rising interest rates were the number one challenge that might face the real estate industry.…
Taking out a loan can be a daunting, overwhelming process. Many prospective buyers have serious mortgage fears. Here are their top concerns: Not Qualifying Due To Bad Credit As we all know, lenders check prospective borrowers’ credit when they apply for a mortgage. Customers with a high credit score, i.e., between 760 and 850, will…
BNN Services is proud to have an A+ Rating from the Better Business Bureau (BBB). Perhaps you’ve seen other businesses tout their good ratings as well. But what do they mean? How prestigious are they? And what exactly sets companies that receive A+ Ratings apart from the rest. You’re in the right place to find…
Though remote online notarization existed well before coronavirus, this modern alternative failed to gain momentum until the pandemic hit. With social distancing guidelines in place, many turned to RON to promote safety and convenience. The urgency for RON caused many providers to scramble, resulting in creative solutions and heightened collaboration. In a recent interview, Rick…
As a realtor, you work closely with your clients to make sure everything goes smoothly from the minute they contact you about buying or selling a house until they sign all the paperwork at the mortgage closing. But how do you maintain a professional relationship with clients after the closing so that the next time…
How Does IT play into Remote Working? When the COVID-19 pandemic started preventing people from coming to the office, working from home became the norm. Now, more than a year after the start of the pandemic, many companies are sticking with remote or hybrid models. Evidence suggests that this trend will continue even after the…
The COVID-19 pandemic has caused millions of people to experience a significant decline in their incomes. Although the CARES Act allowed homeowners to seek mortgage forbearance for up to 12 months, that protection is set to expire for most borrowers by the end of April 2021. Despite this, few financial professionals expect a significant number…
Home sales during the pandemic are strong, and buying will only get easier. It’s no secret that COVID-19 has left a trail of economic ruin in its wake. From sky-high unemployment rates to ongoing bankruptcies, the global pandemic has wreaked serious havoc on the U.S. Fortunately; there’s some light in the darkness. With favorably low…
The Digital Revolution Is Permanently Changing the Real Estate Landscape The COVID-19 pandemic has caused a fundamental shift in how home sales are conducted. Instead of visiting a home in person, buyers are more likely to take an initial tour virtually. Furthermore, buyers and sellers are more likely to ask that documents be sent, edited,…
What Lenders Need to Know About Remote Online Notarization Acceptance Understanding County/State Acceptance Rates With remote online notarizations becoming increasingly more prevalent, lenders have to adapt to this modern technology. Not only do they have to learn the ins and outs of this cutting-edge application, but they also have to grasp the stipulations that come…
Virtual notary adoption surges as businesses rush to close transactions remotely. When COVID-19 devastated the U.S. nearly a year ago, many industries were forced to adapt. To protect public health and adhere to CDC guidelines, COVID-safe alternatives became increasingly more prevalent. Remote online notarization, for instance, has taken the industry by storm. As the pandemic…
