Data Facts Lending Solutions Blog

Mortgage Lending Compliance: Worrying About Debt Monitoring

Posted by Susan McCullah

Sep 18, 2018 10:27:18 AM

If you're in mortgage lending, you probably already know that undisclosed debt is the number one cause of mortgage fraud. Unfortunately, borrowers often take out new loans or make other significant changes to their debt situation within days of closing and that puts lenders in a precarious situation. Under the terms of the Fannie Mae Loan Quality Initiative, lenders are responsible for disclosing any new debt prior to closing, and to ensure you can meet that stipulation, you need to have a undisclosed debt monitoring process as part of your mortgage lending services solutions in place.

Read More

Topics: mortgage lending services, Mortgage lenders, mortgage process, Data Facts

Credit Report Changes May Result in Credit Score Increases for Many Consumers

Posted by Susan McCullah

Mar 20, 2017 3:07:27 PM

The three credit bureaus, Equifax, Experian, and Transunion, will be making changes to two types of information currently reported on credit reports. These alterations could show credit score increases for an estimated 1 in 12 consumers. 

Tax liens and civil judgments are the two pieces of information on the hotseat. The change is scheduled for July 1, 2017. It's estimated that up to half of civil judgment information and most of tax lien data will be removed. 

Read More

Topics: credit reports, Credit Score, Mortgage lenders, mortgage news

Millennial Home Buyers: Will 2017 Be the Year?

Posted by Matt Scott

Feb 16, 2017 1:19:40 PM

Mortgage professionals are wondering when the Millennial generation will finally fly the coop and purchase their first home. When they do, loan officers who effectively connect with Millennial home buyers will reap big, profitable benefits of business.

Read More

Topics: Data Facts, Mortgage lenders, Potential Millennial homebuyers

Updated! DU Day 1 Certainty: Twelve FAQs from the Trenches

Posted by Susan McCullah

Dec 1, 2016 8:20:36 AM

If you are a lender, you have most likely heard about DUs new initiative, the Day 1 Certainty™, going live Saturday, December 10th.

Like any change, there are tons of questions regarding the process. Data Facts Account Executives are often the first to field questions from our clients about this change and how our mortgage lending services can address the coming needs. We have compiled the ones we are hearing over and over, as well as those that have been addressed by Fannie Mae, to help you stay informed. 

Here are the main questions we, as well as Fannie, get about DU Day 1 Certainty.

Read More

Topics: DU Day 1 Certainty, fannie mae, Mortgage lenders, Data Facts

Three Potential Millennial Homebuyers Tips Mortgage Lenders Must Know

Posted by Matt Scott

Apr 26, 2016 10:05:14 AM

woman_asking_question-2.jpgHow much do you really know about potential Millennial homebuyers? 

Do you possess enough information about their personalities and spending habits to help you close more loans and reap literally huge profits from doing business with them? 

Read More

Topics: mortgage trends, Mortgage lenders, Potential Millennial homebuyers

Download the Ultimate Guide to Understanding Credit Scoring

Subscribe to Email Updates

Follow Us:

Recent Posts

Posts by Topic

see all
Go to Top