As Covid-19 reached pandemic proportions in early 2020, the United States Fed took quick and decisive action to shore up the economy, buying hundreds of billions of dollars of mortgage-backed securities. The move was meant to provide banks with extra liquidity to help struggling borrowers as the pandemic forced business closures and jobless rates soared.
• 60% of customers feel comfortable with online mortgage applications
• 30% feel confident using a hybrid model, online applications with in-person or phone support
Learn more in this market commentary from Finastra.
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