Docutech Insights

David Thompson

Recent Posts

Helping Lenders Keep Borrowers Buoyant

Posted by David Thompson on Jun 16, 2016 11:28:29 AM

docutech_wp_blog_1_image-962260-edited.jpegBuying your first home is a very exciting time. Nothing is quite the same as standing on the sidewalk in front of your new home and knowing that you hold the keys to your dream. But, as a colleague of mine once pointed out, “What’s not so exciting is looking at how much it’s going to cost you, and thinking that moving back into your parent’s basement isn’t such a bad idea after all.”

 

This is so true that we wrote a white paper around the idea. If lenders can find a way to help borrowers hold on to that feeling of excitement and accomplishment, it will increase overall borrower satisfaction with our process. It will also increase repeat and referral business.

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Topics: Customer Service

Is Student Loan Debt Slowing Down The Housing Market?

Posted by David Thompson on May 12, 2016 9:00:00 AM

docutech_student_loan.jpg

 

In most cases a college graduate has higher earning potential than someone with just a high school diploma. In a competitive job market, it’s an advantage to have a degree. In addition to showing that you have the education, a degree also tells prospective employers:

  • You’re independent and ready to make decisions on your own
  • You can handle stress
  • You have valuable experiences to bring to the table
  • You can work in diverse groups

But with the cost of college rising much faster than the rate of inflation and the overwhelming amount of student debt many graduates face, the question is fast becoming, “Is all this debt I’m racking up for my education worth it?”

 

Most Millennials don’t understand how many years it will take them just to get back to zero student loan debt and how this will impact their purchasing decisions down the road. Are today’s students aware that there’s a 12.9% unemployment rate for recent grads of film, video and photographic arts majors? Tuition used to be low enough that students could earn enough during the summer to pay for most of it. Now, according to a 2014 usatoday.com article, the average annual cost for undergraduate students attending a four-year college or university in their home state was $18,943. Out-of-state students at those schools paid, on average, $32,762.

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Topics: Technology