CEO Joe Nunziata Talks Mortgage Industry Changes with the Orlando Business Journal
Joe Nunziata, Co-CEO of FBC Mortgage, LLC along with his brother, Rob Nunziata, talked with the Orlando Business Journal about the constant changes in the mortgage industry. As new regulations and ever-changing industry rates should seemingly cause a more complex mortgage process, Joe expresses how FBC Mortgage, LLC keeps the pace by adapting to new technology trends, such as launching the new mortgage application site, SimpleLoan.com.
“This year, we have seen interest rates continue to decline,” states Joe in his Orlando Business Journal interview. “Every time we think they are going to bump up, they seem to fall back down. In the last five years, we have seen technology continue to improve in the industry.”
When asked if people are less afraid of mortgages now, Joe shared his insight into recent home-buying trends. “In 2008, people were both afraid of, and angry with, mortgage companies and banks. Now that the market has improved, consumer sentiment toward the mortgage process has improved greatly. As an industry, we are looking at ways to automate and speed up the home loan process. This year, we launched SimpleLoan.com. A prospective borrower can go to this site and receive a loan approval in about eight to 10 minutes. The millennials seemed afraid of owning a home, but now we are starting to see them jumping into owning instead of renting since rent payments are increasing at such a rapid pace.”
To see more of Joe’s article, click here.