Data Facts Lending Solutions Blog

Matt Holmes

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Why Having the Right Mix of Credit Matters

Posted by Matt Holmes

Oct 26, 2020 9:02:00 AM

Often overlooked, having the right mix of credit can really have an impact on your credit score. Think about your financial investments- how many times have you been told about the merits of “diversifying your portfolio”? Similarly, in the world of credit, the bureaus want to see a diverse buildup of credit use. In other words, they want to see that you aren’t putting all your eggs in one basket.

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Topics: Credit Score, Credit Report

3 Scary Mortgage Fraud Headlines

Posted by Matt Holmes

Oct 19, 2020 9:02:00 AM

It’s a spooky time of year, but all tricks and treats aside, there has been some really unsettling news involving mortgage fraud schemes in recent months. Check out these haunting headlines:

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Topics: mortgage fraud, Mortgage Lending, Fraud

Protecting Your Credit During a Divorce

Posted by Matt Holmes

Oct 13, 2020 9:02:00 AM

Going through a divorce can be one of the most stressful experiences in life, and if it happens to you, your credit score might be one of the last things on your mind. However, even during these difficult times, the world keeps spinning. And the fact is, divorce can greatly impact your finances and credit history. With close to 50% of all marriages ending in divorce, and divorce finalization taking close to 1 year to complete, protecting your credit along the way is critical to your financial future.

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Topics: divorce, finances, Credit Report

Cyberattacks are Increasing: Here’s How Lenders Can Stay Safe

Posted by Matt Holmes

Oct 5, 2020 9:02:00 AM

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Topics: Cybersecurity

5 Things That Can Derail a Mortgage Closing

Posted by Matt Holmes

Sep 29, 2020 9:02:00 AM

Stop us if you’ve heard this before: Just when you thought you were on a clear path to closing, someone or something throws a monkey wrench into the plan. This is a reality Data Facts has seen time and again, and there are several things you need to be on the lookout for. Here are 5 common things that can derail a mortgage closing:

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Topics: Mortgage Lending

Credit Supplements and Rescores: What's the Difference?

Posted by Matt Holmes

Sep 21, 2020 9:02:00 AM

When a consumer makes spending choices that affect their credit report, the bureaus don’t update this information right away. In fact, it can take a month for new information to appear on a credit report. This is why it’s often necessary for lenders to append additional information to the borrower’s file before closing. This is where credit supplements and rescores come in. Oftentimes, these two terms are mentioned in similar contexts, so it’s only appropriate that we distinguish them from each other. So what’s the difference between a supplement and a rescore?

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Topics: Credit Score, Credit Report, Rescores, Supplements

5 Famous Quotes for First-Time Homebuyers

Posted by Matt Holmes

Sep 14, 2020 9:27:01 AM

Your first-time homebuyers are at the very beginning of a life-changing experience, and you want to make sure it’s life-changing in all the right ways. Of course, sometimes that’s easier said than done, but with the right level of empathy and expertise, you can help your borrowers feel comfortable on this often-daunting journey. Here are some great quotes about homeownership that you can share with your first-time homebuyers:

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Topics: Mortgage Lending, Mortgage lenders, Potential Millennial homebuyers, Gen Z Homebuyers

Can Credit Boosters Help Your Score?

Posted by Matt Holmes

Sep 8, 2020 9:02:00 AM

You may have heard the buzz surrounding credit booster programs. Experian Boost and UltraFICO are two programs designed to give a facelift to the credit profiles- and the credit scores- of many. But they’re not for everyone. Here’s how to determine whether a credit booster program is right for you.

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Topics: Credit Score, Improve Credit Score, Credit Report

4 Things That Can Diminish Your Home’s Appraised Value

Posted by Matt Holmes

Aug 31, 2020 9:02:00 AM

These days, historically low interest rates have probably made you think about refinancing your home. If you’re planning on doing this, your lender will need to conduct an appraisal on your property. The goal of an appraisal is to perform an accurate valuation of your home based on a set of factors. Unfortunately, many of these factors aren’t under your control, such as comparable sales or proximity to schools or hospitals. However, Data Facts’ team of skilled appraisers has valued countless properties over the years, and we’ve learned there’s lots of things under your control when it comes to appraisals. Here are some examples of mistakes you should avoid that can diminish your home’s appraised value:

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Topics: Appraisal, Appraisal Management

Fannie and Freddie CEOs Address Adverse Market Fee Complaints

Posted by Matt Holmes

Aug 24, 2020 9:02:00 AM

Fannie Mae and Freddie Mac issued a combined letter Thursday responding to the grievances of lenders in the wake of the announcement of the new 0.5% fee on mortgages.

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Topics: Mortgage Lending, fannie mae, Freddie Mac

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