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. Mortgage lenders review loan applicants from all walks of life, including those previously convicted of a crime. Deciding whether or not to grant them the loan can be … Read More
As a mortgage lender, you are probably no stranger to fraud. In fact, nearly 1 in 120 mortgage applications contain fraud1. Fraud can come in many different forms, but with the increasing digitalization of the loan application process, mortgage lenders need to be especially watchful of potential fake employers and pay stub scams. That’s why Verification of Employment (VOE) for … 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
