Freddie Mac Launches “Borrower of the Future” Campaign
The campaign aims to improve the housing finance system and better serve the next generation of homeowners
May 21, 2018, Freddie Mac announced the launch of “Borrower of the Future” campaign to help mortgage originators better understand and address the evolving needs of the next generation of consumers driving housing demand. Freddie Mac will deliver qualitative and quantitative insights showing how key trends affect various buyer segments, with the goal of applying these learnings industry-wide to improve the housing finance system.
Freddie Mac has drawn on data to gain insight and on what changing demographics and new behavioral economics mean for home ownership. The increase in self-employed and digitally-driven lifestyles are having a tremendous impact and leading to shifts in behavioral, economic and societal factors.
Freddie Mac has partnered with NYU Professor Arun Sundararajan for the Borrower of the Future program. Professor Sundararajan will provide insight into how digital technologies and the future of work change the dynamics of homeownership, leveraging research and expertise to further advance the initiative’s efforts.
Today’s potential homebuyers face unique obstacles to qualifying for a mortgage and making a down payment on a home, including having lower-levels of accumulated savings and challenges verifying their income if they are self-employed.
Lenders and industry professionals can access Freddie Mac’s website http://www.borrowersofthefuture.comto explore research data, initiatives and resources. The site provides updated product information such as low down payment programs, self-employed borrowers, homebuyer education and electronic documents.
Anna DeSimone founded Bankers Advisory in 1986 and is a nationally recognized authority in residential mortgage lending. She has received numerous industry awards and has authored more than 40 best practices guides and hundreds of articles.
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