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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Hispanic Marketing
Housing The Underserved
All the experts agree future growth in the mortgage business will come from developing
programs to serve the underserved markets. One of the fastest growing segments of this group is Hispanic Americans.
When dealing with underserved markets one has to realize there may be need to
counter a number of misperceptions held about these groups. Here are some facts about the so-called Hispanic market
for those who may be unaware.
First, it appears to hold a lot of untapped demand for the mortgage industry.
Freddie Mac conducted a survey and found that about half of African-Americans and a similar number of Hispanics
believe they would need to have perfect credit to buy a house. But it is a disparate community and its borrowers
can't necessarily be reached through a singular approach.
Hispanic Americans share only the fact that they come from cultures where the
"Spanish" language is generally predominant and, according to statistics, they have a relatively low
rate of homeownership and a growing demand for it. So those from Mexico may, for example, may have different cultural
values from someone from the Caribbean or from South America.
In this Special Report read about how Freddie Mac is working to counter the perception
held by many that they just do not qualify to buy a home.
Also read about how a company like Casa Capital has been able to make inroads
in this community and what its president says originators need to do to reach its members.
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