For most lenders, traditional credit data is the bedrock of their underwriting process. It encompasses the information found within Equifax, TransUnion, and Experian credit reports. While undeniably valuable, traditional credit data leaves out a lot of credit consumers. After all, one in ten American adults is “credit invisible,” which means they don’t have a credit report.1 An additional 19 million … Read More
As a mortgage lender, your top priorities are providing exceptional service and attracting new clients. However, balancing these priorities can be tough, especially if you don’t have the right tools. From helping generate new leads to strengthening your underwriting process, many mortgage lender tools can instantly upgrade your business operations. So, what tools should you invest in? Check out this … Read More
This is a crowdsourced article. Contributors are not necessarily affiliated with this website and their statements do not necessarily reflect the opinion of this website, other people, businesses, or other contributors. The mortgage industry has seen drastic changes over the past couple of years during the pandemic. Many of the changes adopted out of necessity have proven to be … Read More
The Millenials, and the not far behind Generation Z, engage with media differently than past generations. What does that mean for lenders that hope to reach this younger demographic? You may have to adjust your advertising techniques. According to Enact’s 2020 Statistical report, first-time homebuyers made up 56% percent of the mortgages in 2020 in the United States.1 Additonally, young … Read More
Mortgage fraud is a pervasive issue that costs financial institutions billions of dollars.1 Nearly 1 in 120 mortgage applications contain fraud2, and unfortunately, most lenders only discover that fraud has happened after a borrower has defaulted on their loan. As a mortgage lender, you need to develop a keen eye for the red flags of mortgage fraud. It’s believed that … Read More
This is a crowdsourced article. Contributors are not necessarily affiliated with this website and their statements do not necessarily reflect the opinion of this website, other people, businesses, or other contributors. Accurate property values are vital to mortgage brokers and real estate investors, who must make pivotal decisions based on the reported value of a house or land parcel. … Read More
