Millennials need more human home buying help: New American Funding CEO
Automation less urgent with collapse of refinance market. Experts have long pitched customer-focused automation to help boost efficiency and save money. That scenario doesn’t necessarily work today, however, after the collapse of mortgage refinancing, rising interest rates and an industry downturn, according to New American Funding CEO Rick Arvielo. He argued the market turn drove many veteran homebuyers out of the market – the customers clamoring for automation. Millennials buyers remain, and they need much more in-person home buying attention than expected. “The millennials, which make up the bulk of first-time homebuyers – they need more help in making the homebuyer decision,” Arvielo said. “Statistically, they’re just as likely to engage a professional real estate agent and a professional loan agent to consummate their purchase target than
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