Your credit reports have far-reaching ramifications. Most notably, the information contained in your credit reports is used to calculate your credit score. If any of this information is outdated or inaccurate, it may cause your credit score to be lower than it should be. According to a recent Consumer Reports study, one-third of consumers have at least one error on … Read More
As of May 1st, 2023, Fannie Mae and Freddie Mac have altered their LLPA matrix to make homeownership more attainable to first-time homebuyers and underserved borrowers. While this change was made with good intentions, it has spurred some controversy amongst mortgage professionals. So, what are the details regarding the LLPA changes? And what do they mean for mortgage lenders? Below, … Read More
Qualifying More Borrowers in Today's Market [Part 1] Your browser does not support the audio tag. Qualifying More Borrowers in Today's Market [Part 2] Your browser does not support the audio tag. Talk Data to Me: Qualifying More Borrowers in Today’s Market From growing expenses and declining revenue to the impacts of increasing consumer debt and decreasing creditworthiness, competing in … Read More
This year, housing affordability has reached a record low.[i] Only 21% of homes for sale are considered “affordable,” meaning that their estimated monthly mortgage payments are less than 30% of the average residents’ income. That figure is down from 60% in 2021.[ii] So, what’s the reason behind these costly market conditions? High interest rates and low housing inventories are two … Read More
First-time homebuyers naturally have many questions about the mortgage lending process. As a mortgage lender, you can educate these borrowers so they move through the lending process with confidence. In this article, we’ll answer 20 of the most frequently asked questions about buying a home for the first time. You can use these FAQs to coach your applicants and bolster … Read More
Certified Credit’s ICE Mortgage Experience 2023 Recap This year, Certified Credit attended the 2023 ICE Mortgage Experience. This conference draws thousands of mortgage professionals and industry experts from across the country. During the event, we had the pleasure of speaking to many mortgage lenders and listening to keynote speaker panels. These discussions shed light on the current challenges faced by … Read More
