From mortgage loans to credit cards, financing can help you accomplish your financial goals more quickly and conveniently than you could otherwise. If you want to take advantage of credit, you need to establish yourself as a trustworthy borrower. There are five factors that lenders use to assess your creditworthiness. These factors are known as the five C’s of credit: … Read More
Getting calls from debt collectors can be overwhelming and stressful. Additionally, having a collection account listed on your credit report can bring down your credit score considerably. You may be wondering just how much a collection can impact your credit score. In this article, we’ll discuss the credit consequences of having an unpaid debt go to collections. We’ll also review … Read More
Talk Data to Me: NextGen Homebuyer with Kristin Messerli of Experience.com Homebuying has always been one of the most complex and important decisions an individual can make. But, with the impacts of the COVID-19 pandemic, lacking financial education, and the challenges of the current housing market, the next generation of homebuyers is finding it more challenging than ever before to … Read More
Social media has transformed the way we connect with one another and conduct business. As of 2022, the average person spends two hours and 27 minutes on social media each day.[1] With so many people engaging actively on social media, it’s crucial that mortgage lenders learn how to operate in this space effectively. Having a positive social media presence can … Read More
For consumers (borrowers) a credit freeze is one way to protect against identity theft by restricting access to your credit report. For example, let’s say a cybercriminal steals your identity (e.g. social security number or other personal information) to try to apply for a loan in your name. With a credit freeze, the lender/creditor would reject the application because they … Read More
As a mortgage lender, it’s your responsibility to ensure that your borrowers can afford to pay back their loans on time. Part of this process involves verifying their income and employment. Unfortunately, you can’t simply rely on applicants’ claims that they earn an adequate income at their current job. You need to corroborate their claims to ensure they truly meet … Read More
