Studio line: 860 889-5252
And just so you can REALLY plan ahead, we have this for you:
WEDNESDAY, MAY 29 2013 — 8:10 AM with
HOME SALES ARE ON THE RISE
Inaugural Mortgage Service Index Reveals Consumer Experience on the
Home Buying Process
PLUS: Financial Expert Provides Tips on How to Improve it
What are Home Buying Trends in Your Region?
It’s no surprise that the housing market has turned a corner within the past year. Home prices are rising at the fastest pace in six years, home purchases are up nearly 50 percent, and construction is expanding again. In the midst of home buying season, now is the perfect time for buyers to become more educated on what to look for in a mortgage partner and seek out a lender who will best guide them through the home financing process.
TD Bank recently announced results of its inaugural Mortgage Service Index, which was conducted to gain insight into consumers’ home buying experiences, with specific emphasis on the home financing process. It was designed to identify best practices and troubled areas in home financing, and can act as a service indicator for lending institutions. Some key findings include:
- 80 percent of those who had a positive home buying experience felt that they had an “excellent” or “very good” experience obtaining a mortgage, while just 39 percent of those with a poor home buying experience felt the same
- The majority of those surveyed (47 percent) obtained a mortgage at a bank where they did not have an existing account
- 82 percent of those surveyed feel that right now is a “very good” or “good” time to purchase home, with 90 percent expecting the housing market to “stay the same” or “improve” over the next six months
- Only 34 percent of home buyers obtained a mortgage at their primary bank
MORE ABOUT MICHAEL COPELY:
MICHAEL Copley leads Retail Lending at TD Bank. Mike has 30 years of banking experience. Prior to joining the bank in January 2005, he served as Senior Executive Vice President for MBNA America Bank, Inc., the world’s largest mono line credit card issuer for 11 years. Mike’s additional experience includes ten years at CitiCorp, in various senior level positions specific to the mortgage business. He began his banking career in Portsmouth, VA with Central Fidelity Banks’ Inc. as a management program trainee. Mike is the former Board Chairman for St. Mark’s high school in Wilmington, DE. He obtained his Bachelor of Science degree in Marketing in 1978 from The University of Richmond and the E. Claiborne School of Business.