New Financial Tracking Tool for Millennials.
In recent years, the mortgage industry has been buzzing about the 87 million potential homebuyers born between 1980 and 1999 who are entering the market in droves. Lenders have attempted to understand their needs and preferences, so Ellie Mae, Inc., a software company that processes almost a quarter of U.S. mortgage applications, released The Millennial Tracker ™, “a new interactive online tool on millennial loan trends in the United States.”
The “new interactive tool provides insight into the next generation of U.S. home-buyers based on Ellie Mae mortgage application data,” such as whether they prefer FHA or conventional loans and average loan amounts based on demographic data. The online tool is updated with new data every month, and lenders can tailor their searches by geography, age, gender, marital status, FICO score and more. The data used in the tracker is from a sample of 66% of all closed mortgages going back to 2014 that were initiated on Ellie Mae’s Encompass-all-in-one mortgage management solution.
Click here to register to receive The Millennial Tracker reports and use the search tool.