In 2021 an estimated 42 million Americans had their identity stolen.[i] With the growing prevalence of data breaches and cybercrime, it’s no surprise that identity theft is on the rise. Dealing with identity theft can be upsetting, expensive, and time-consuming. Fortunately, there are ways to guard against it. One tool consumers can use to protect themselves from credit-related fraud are … Read More
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
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
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
While mortgage fraud has serious consequences, it still takes place on a daily basis. Applicants and mortgage professionals alike have strong incentives to perpetrate fraud. Mortgage fraud has always been a concern for lenders, but it’s been on the rise in recent years. This is largely due to the increase in digital mortgage activity that’s taken place in the wake … Read More
