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According to a recent J.D. Power Primary Mortgage Servicer Satisfaction Study, 63% of borrowers will switch lenders for a better customer experience. The bottom line: to stay relevant now and into the future, effectively transitioning to digital is a business imperative mortgage providers must embrace.
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An “underwater” mortgage is when the balance of the mortgage loan is higher than the fair market value of the property. This type of situation became common following the housing market crash that occurred in the late 2000s when many homeowners saw their homes lose a considerable portion of their value.
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