With Federal Housing Administration) loans now the latest rage in returning underserved borrowers to safer loan products, Des Moines, Iowa-based iEmergent has released a new series of demographic mortgage forecasting reports, so lenders have access to analytics that will help them find potential borrowers in certain markets who are looking for safe and affordable loan products.

In a press statement, iEmergent said the company’s “recent analysis of Purchase Mortgage Conversion Rate (PMCR) levels indicated that even though the 2003 to 2006 period witnessed a record-breaking surge of home buying activity and rising homeownership, Hispanic, African American, moderate and low-income segments were drastically underserved.” iEmergent also says the most recent lending cycle involved a great deal of predatory lending in underserved markets.
According to iEmergent, the company’s new analytics provide the kind of data that allows lenders to direct their products to consumers based on the size and demographics of the population and their potential to find homeowners who desire access to quality loan products.
“Many lenders are now avoiding these so-called ‘distressed’ markets when in actuality the demand for traditional loan products remains strong and risk factors are acceptable,” said Dennis Hedlund, founder and president of iEmergent. “Reaching out to these borrowers can add profitability for a lender and help reverse the downward cycle of foreclosures that threaten the stability of vibrant communities.”