Mar 8, 2019 2:26:58 PM
Topics: Mortgage Lending
Jan 22, 2019 1:11:43 PM
This article was originally posted at Washington's Top News by U.S. News and World Report, and can be accessed here.
If you’re one of the 800,000 federal employees who are not getting paid during the government shutdown, you’re in a tough spot, for sure.
Most likely, you’ve morphed into survival mode, which may or may not include thinking about your credit score. I totally get that. But what if I told you it’s possible to get through this with an (almost) intact credit score?
Dec 17, 2018 9:44:51 AM
Whether a person is thinking about joining the military, has been enlisted for years, or is a veteran, it’s important they think about and act to protect their credit. There are a variety of ways credit scores can be affected negatively, which then impacts the person’s ability to purchase a house, car, or even secure a credit card.
Topics: Credit Report
Oct 11, 2018 10:27:06 AM
Most of us have followed them to some degree for years: those sassy, intriguing Millennials. How they are educated, activities they enjoy, what they won’t abide, and their expectations on life in general have fascinated us for the past decade.
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.
Jul 31, 2018 11:09:15 AM
Lenders have historically put significant weight on the presence of public records on an applicant's credit report. And with good reason. A recent study showed that consumers with liens or judgments as part of their credit history are twice as likely to default on a loan as those with no outstanding liens or judgments.
In 2016, the bureaus were sued multiple times because of incorrect public record data being included on their credit reports. This happens because there are 10,000-20,000 "jurisdictions" of municipal authorities. Some of these records are sealed and the parties involved are not disclosed until it goes unpaid. The defendant then must file an action in the civil courts. Even in 2018, smaller courts still don't electronically publish information. In addition, public records are frequently logged with only one identifier, so it's not hard to get them "mixed up" with people who have the same name.
Topics: mortgage lending services
Jun 4, 2018 10:00:00 AM
Mortgage triggering is the process that some lenders use to gain customers.
If you are a mortgage lender and haven’t experienced it yet, lucky you.
Basically, lenders purchase these ‘trigger leads’ from the bureaus or other companies.
May 31, 2018 10:54:44 AM
Here is some important information Fannie Mae shared recently about mortgage fraud. These statistics are based on results of 2016 and 2017 mortgage fraud numbers.
May 25, 2018 1:35:00 PM
Third Party Vendor Management is a hot topic within the mortgage industry these days.
One of the first (and most effective) steps you can take to limit potential third-party risk, is to properly vet and reduce the vendors of your mortgage lending services to only the ones that adhere to the most stringent of compliance standards.
May 7, 2018 2:05:55 PM
When it launched a year-and-a-half ago, Day 1 Certainty promised to offer mortgage lenders more confidence and help save borrowers time in their loan application.