Data Facts Lending Solutions Blog

Fannie Mae Moves to Accommodate Student Loan Debt

Posted by Jann Swanson

Apr 26, 2017 9:00:40 AM

Data Facts periodically shares external information to educate our lending clients on upcoming changes, shifts, and relevant news in the mortgage lending services industry that affects how they do business. 

~Originally posted at Mortgage News Daily by Jann Swanson. 

At $1.4 trillion, student loan debt represents the U.S.'s second largest debt market behind mortgages and, in several recent surveys, younger respondents have said those loans are a large reason they are unable to save up a downpayment to buy a home. The debt won't easily go away, but Fannie Mae now says it would like to make those loans a slightly little less painful presence in borrowers' lives.

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Topics: fannie mae, Student loan debt, mortgage lending services

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. 

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

2017 Mortgage Trends that Can Disrupt A Mortgage Pro's Success

Posted by Susan McCullah

Feb 28, 2017 11:07:34 AM

Several components play into the fact there's no easy sailing for mortgage professionals.

 2017 poses especially unique challenges. Being prepared with the right tools and education is key to being successful in today's mortgage industry. 

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Topics: Data Facts blog, Millennials, Mortgage Lending, Potential Millennial homebuyers

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.

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Topics: Data Facts, Mortgage lenders, Potential Millennial homebuyers

Are You a Lender Concerned About the Cost of Lending Compliance?

Posted by Susan McCullah

Jan 31, 2017 3:24:51 PM

 

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Topics: Mortgage compliance, Compliance, CFPB, mortgage lending services

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 Certaintyâ„¢, 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.

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

Lenders Get the Full Picture with Portfolio Monitoring Solutions

Posted by Susan McCullah

Nov 9, 2016 10:01:00 AM

When it comes to consumer credit portfolios, the only constant is change. And, unfortunately, when lenders attempt to keep a good grasp on their consumer credit portfolios, change can be a major challenge.

The good news is there are tools to help proactively review consumer credit profiles faster and more frequently. With this type of information in hand, you can now make better risk-management decisions for your portfolio as a whole. 

These tools are lending portfolio monitoring solutions. Employing such a system allows lenders to quickly identify, segment and prioritize accounts that meet designated risk levels to improve profitability.

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What do lending portfolio monitoring solutions do for you?

They realize deeper insights to optimize strategies. The more in-depth information lenders gain, the better able they are at managing their portfolios in a way that meets goals and gain opportunities. Consistent lending portfolio review provides this. 

Such as...

#1: Predicting a consumer’s capacity to pay so you can improve: 

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Topics: Mortgage Lending, Lending portfolio review, Portfolio monitoring

Six Scary Mistakes Turn an Approved Mortgage into a Denied Mortgage

Posted by Susan McCullah

Oct 13, 2016 9:15:00 AM

 

Are you dreaming of dressing your new home with spiderwebs, jack-o-lanterns, and scary Halloween music while you pass out candy to hungry zombies and beautiful princesses? Then be sure to avoid these mistakes during the home buying process.

Once you find the perfect home, secure financing, and sign the contract, you may think it's a done deal. Be careful, though. There are several mistakes you may make during the mortgage process that will drive your interest rate higher, or derail your closing completely. 

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Topics: credit reports, Data Facts, Mortgage loan, Mortgage

Got Mortgage Trended Data Blues? FAQ's to Help Ease the Pain

Posted by Susan McCullah

Aug 24, 2016 11:03:11 AM


Singin' the blues over more changes heading your way?

If you are not sure about the addition of trended data on mortgage credit reports, how it affects you, and how to deal with it, take heart! The reality is that mortgage credit trended data is a shockwave to the industry, and is causing even more changes for mortgage originators who have already been handed their fair share (TRID, anyone?).

We have scoured our mortgage lending services sources to answer some of the biggest, most common questions about trended data information...

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Topics: credit reports, Data Facts, Credit Score, mortgage trended data, trended credit data, mortgage lending services

Be Vigilant on Vacay! TwelveTips to Guard Against Identity Theft this Summer

Posted by Susan McCullah

Jul 7, 2016 11:01:37 AM

Planning a fun trip this summer?

It's important to relax and have fun on vacation, but remember that criminals are everywhere, waiting to take advantage of your lack of attention. It's likely that the last thing on your mind when you're vacationing is becoming the victim of identity theft. However, vacation time is also when identity thieves are at their busiest.

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Topics: Identity theft, Hacked, Credit Freeze

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