Ryan Saniuk

Car Payments, Delinquencies and the Housing Market Blog Hero Image

Car Payments Keep Soaring, Taking an Even Bigger Bite Out of Prospective Homebuyer DTI

Down payments for new and used cars are higher than ever as car loan delinquencies rise Several months ago, OpenClose™ posted a blog that detailed how soaring car payments could impact a borrower’s ability to qualify for a mortgage or access funds for a desired home at current prices. Now, continued interest rate hikes make …

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OpenClose to Bring Accelerated, Frictionless, and Comprehensive Innovation to Mortgage Technology

With its acquisition by MeridianLink®, customers gain access to cutting-edge resources that can propel their businesses forward and further benefit their borrowers and members. The acquisition of OpenClose by MeridianLink® represents a new dawn for OpenClose customers­­ with ample tools to thrive via the innovation and support granted by MeridianLink and its wealth of resources. …

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Walking the Line Between Community Banks and Credit Unions

Occasionally lumped together, there are similarities, but also important, distinct differences When consumers, borrowers, and businesses are frustrated with behemoth banks, they sometimes believe there is no other depository or lending institution to which they can turn in order to hold their savings or help their business (personal or professional). So, when clients are considering a …

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OpenClose Is Paving the Way for Women in Financial Technology

Generally, women are underrepresented in the fintech space—a disparity that OpenClose is actively changing. Women in the Fintech World (Macro) Traditionally, the world of financial technology (fintech) has been heavily skewed toward men. So, it’s no surprise that Business Today’s Online Journal found that less than 30% of fintech employees are women. And, as the …

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MeridianLink® Announces Acquisition of OpenClose™

Mortgage lending technology leaders combine to offer omnichannel mortgage solutions that improve efficiency while reducing costs and time to close COSTA MESA, Calif., Nov. 7, 2022 – MeridianLink, Inc.® (NYSE: MLNK) today announced it has completed the acquisition of OpenClose™, a leading fintech provider of residential mortgage software solutions for banks, credit unions, and independent …

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Will Soaring Car Payments and Terms Hurt Potential Homebuyers and Put Downward Pressure on Home Prices?

Will Soaring Car Payments and Terms Hurt Potential Homebuyers and Put Downward Pressure on Home Prices?

Car payments are becoming larger parts of borrowers’ DTI ratios for longer and longer! According to Autotrader, the average car loan has increased to almost 70 months in the fourth quarter of 2021. Ouch. That’s a long time—nearly six years. I mean, I went from the first day of 7th grade to a high school …

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What Do July’s Strong Employment Numbers Mean for Interest Rates and the Economy?

What Do July’s Strong Employment Numbers Mean for Interest Rates and the Economy?

Will the 528,000 new jobs added (nearly double the estimate) give prospective homebuyers confidence to stop canceling deals or step back into the market? Despite the Fed enacting its second consecutive 0.75 percentage point interest rate increase in an effort to tamp down runaway inflation without creating a recession, employers still needed workers! Incredibly, these …

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