Data Facts Lending Solutions Blog

Well, we made it. A new year. A new decade. The 2010’s are behind us and 2020’s are upon us (sounds weird, doesn’t it?). If your mortgage lending team struggled to hit their numbers in 2019, there’s so many paths you can take to turn it around. But they all start with a clear set of goals. And what makes a great goal? Well we’re glad you asked.

Topics: Mortgage loan, Mortgage, lending solutions, Mortgage lenders

The new year is upon us, and most of us set goals that we want to accomplish. Many of these relate to money. If you are a mortgage professional who could handle more bucks in your bank account, employ these six New Year's resolutions to help you close more loans in 2016. 

#1: I will educate myself on all mortgage aspects. Consumers have lots of questions during the mortgage process, and it pays to be able to answer them in a concise, understandable manner. Mortgage professionals who "don't have time" to give their customers the 411, or who aren't prepared for the barrage of questions will most likely end up with big, gaping holes in their schedule. 

Resolve to: read industry blogs, attend training webinars, and in-person presentations about current

Topics: Mortgage, lending solutions, Credit Score, Understanding Credit Scores, Third Party Vendor Management

We know mortgage fraud comes in various shapes and forms. Catching it early is key if mortgage lenders want to protect their organizations from costly expenses associated with the crime. 

There are several mortgage lending services that address mortgage fraud, and being proactive and savvy to the common ways consumers try to "pull off" mortgage fraud is necessary. 

Watch out for these key indicators of potential mortgage fraud. 

Topics: lending solutions, Mortgage compliance, mortgage fraud, Mortgage Lending, mortgage lending services

Currently, Over 80,000 mortgage applications each year have what is considered “HIGH FRAUD RISK” and the cost to lenders and the financial system are estimated to be BILLIONS!! 

Mortgage fraud is defined by the Mortgage Bankers Association as “any misrepresentation to the lender from a mortgage applicant for the purpose of being approved for a mortgage that the applicant would not otherwise qualify in order to obtain property, or simply profit”. It is a crime with severe penalties yet continues to be one of the fastest growing crimes in the US.

Topics: MBA, Mortgage, lending solutions, Mortgage compliance, mortgage fraud, tax return verifications, TRV, BankerVMS

In an effort to modernize its processes and further streamline the mortgage lending process, FHA announced the authorization of lenders to accept electronic signatures on FHA backed mortgage loan documents for Single Family Housing.  With FHA's publication of the Mortgagee Letter 2014-03 now, the organization will allow e-signatures on origination, servicing, and loss mitigation documents, as well as FHA insurance claims, REO sales contracts and related addenda.  

Documents now authorized by the FHA include all thos

Topics: Mortgage, lending solutions, Compliance, FHA

Looking for a credit card? If so, you’ll need to shop around. Do some research to compare costs, features and drawbacks before settling on a single card.

Topics: Data Facts blog, lending solutions, Credit Score, finances, credit cards, credit history, FICO

You’ve gone to your lender and been approved for a home mortgage. You’ve found the home of your dreams. But just when you are about to close, the lender says you are no longer approved. What happened?

Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage, lending solutions, Credit Score, Mortgage compliance, finances, credit cards, credit history, Compliance, Credit Bureau, mortgage news, FICO

The H.A.R.P. (Home Affordable Refinance Program) program which enables struggling homeowners to refinance their mortgage, whose home value has declined, has extended its application deadline to December 31^st 2015.

Topics: Data Facts, Mortgage loan, MBA, Mortgage, lending solutions, finances, HARP 2.0, FHA, mortgage news

Mortgage triggering is a frustrating, pull-your-hair out phenomenon that rears its ugly head frequently during a refinance boom. If you are a mortgage lender and haven’t experienced it yet, lucky you.

Mortgage triggering is the process that some lenders use to gain customers.

Topics: Data Facts blog, FCRA, wordpress blog, Data Facts, Mortgage loan, Fair Debt Collection Act, Mortgage, lending solutions, Credit Score, Mortgage compliance, Financial literacy month, mortgage fraud, Improve Credit Score, credit history, Mortgage triggering, Do not call list, Compliance, FHA, Opt Out PreScreen, mortgage news