While the nation's economy attempts to recover as a whole, the automotive and housing industries are two bright lights in the recession tunnel, according to a recent Wall Street Journal article.
Car dealerships are currently on track to sell 14.2 million new cars and light trucks in 2012, the best since 2007. Additionally, housing has been a pleasant surprise. The article said that Fannie Mae's latest forecast calls for sales of 4.96 million homes this year. That's a good increase compared with a January forecast of 4.74 million.
From this, new auto loan registrations reached their highest level in the second quarter since 2007, according to the news source. Also, the value of single-family-mortgage originations has risen to the highest level since mid 2010. As such, lenders should ensure they have quality loan management software in place to create quality repayment plans for all borrowers.
Bloomberg News also reported on more good news for Fannie Mae. The government sponsored enterprise's (GSE) first auction of foreclosed homes to be managed as rentals sold for $78.1 million, or 96 percent of the properties' estimated value, according to the Federal Housing Finance Agency (FHFA).
"Seeing it traded at that high value means we're probably going to see more pool sales coming," Jim Warren, senior vice president of Tenant Access, a single-family rental management company said to the news source. "Institutional money can aggregate a lot quicker. It's easier to evaluate an entire pool than one property at a time."
With the automobile and housing industries showing signs of strength, lenders in those types of organizations would be well-advised to have mortgage or auto loan management software. This way, when borrowers continue to seek aid in making purchases, quality loans can be created that will benefit both sides.