Spooky season is officially upon us, and while Halloween’s ghosts and goblins are scary, there’s something even more frightening lurking in the shadows: the spine-chilling figures in your applicants’ credit reports. From eerie errors to ghost-like credit invisibility, many aspiring homeowners’ credit reports need some TLC before they’ll be mortgage-ready. But fear not! Below, we’ll shine a light on these … Read More
While 2024’s challenging market conditions have been difficult for many financial institutions, credit unions have been hit the hardest. Credit unions faced a 31% decrease in lending since the second quarter of 2022, compared to banks’ more modest dip of 11%. Fortunately, brighter times are on the horizon. Thanks to the Federal Reserve’s recent rate cut, housing inventory and mortgage … Read More
Have you heard the news? Mortgage buybacks are on the rise. Freddie Mac’s 2024 mortgage repurchase requests spiked 29.1% from Q1 to Q2, bringing them up to $430 million. While loan buyback requests are never welcomed, they’re particularly damaging in today’s market. In the face of high mortgage rates and housing affordability hurdles, loan volumes fell to their lowest level … Read More
Automated valuation models have revolutionized the real estate industry, offering quick and cost-effective property valuations. These sophisticated algorithms crunch vast amounts of data to estimate a property’s worth in minutes. But, how accurate are they really? And what impact are they having on buyers, sellers, and lenders? Over the past decade, AVMs have evolved from clunky tools to sleek, AI-powered … Read More
As a mortgage lender, you understand the significance of a mortgage credit report in the lending process. It’s a critical document that helps you evaluate a borrower’s creditworthiness and make informed lending decisions. Let’s delve into the world of mortgage credit reports and explore ways to empower your borrowers and enhance the lending process. What is a Mortgage Credit Report? … Read More
Picking the right tri merge credit report vendor can be the difference between a smooth, efficient loan process and a tangled mess of inaccuracies and delays. It’s about finding a partner who understands the mortgage world and provides insights for sound lending decisions. In this article, we will explore the key factors to consider when selecting a tri merge credit … Read More
