Data Facts Lending Solutions Blog

GSEs Stress Lump Sum Forbearance Repayments Not Required

Posted by Matt Holmes

May 4, 2020 9:02:00 AM

As COVID-19 has forced many borrowers into dire situations, lenders continue to offer forbearance on mortgages. However, the expectations for repayment have become murky, due to misconceptions by consumers and mortgage servicers. One of these misconceptions is the belief that all missed payments must be repaid after the forbearance period ends.

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Topics: Mortgage Lending, Forbearance

5 Home Office Tips for Loan Originators

Posted by Matt Holmes

Apr 13, 2020 9:02:00 AM

Of course, during times like these, working from home is a luxury that can keep you safe. But if it comes at the expense of your productivity, it could be more of a burden than you think. Here are 5 tips that can keep loan originators safe at home, but also productive at their jobs.

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Topics: Mortgage loan, Mortgage, Mortgage Lending

3 Customer Retention Tactics for Mortgage Lenders

Posted by Matt Holmes

Feb 10, 2020 9:02:00 AM

You’ve probably heard the expression, ‘It costs around 5 times as much to acquire a new customer than to retain a current one.’ And it’s true, especially in the mortgage lending business. According to the National Association of Realtors, the average 2018 seller was in their home for 9 years. With that said, you can expect more than 10% of your clientele to be underway on their search for a new home.

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Topics: Mortgage, Mortgage Lending, Customer Retention

What Football Teaches us about Mortgage Credit Reporting

Posted by Matt Holmes

Jan 27, 2020 9:02:00 AM

It’s January, and that means a lot of us just simply have football on our brains. Whether it’s researching French onion dip recipes for the big game or placing bets on the final score, we’re hyped for the game. And to some of us, if we thought about mortgages like we thought about football, we’d be a lot better at our jobs. That got us thinking.

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Topics: credit reports, Mortgage, Credit Score, Mortgage Lending, Credit Report

4 Ways to Generate Free Mortgage Leads Using Social Media

Posted by Matt Holmes

Oct 29, 2019 9:42:35 AM

You’ve probably heard it from countless lending professionals- Social Media is the next great way to help generate mortgage leads. And they’re right, but with the loan origination process costly enough as it is, how can you curate awesome social media leads without hurting your bottom line? While there may not be a ‘silver bullet’ solution, here are a few ways social media can help you generate mortgage leads for free:

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Topics: social media, Mortgage Lending, Lead Generation

3 years of Day 1 Certainty: What You May Have Overlooked

Posted by Matt Holmes

Oct 22, 2019 9:07:06 AM

Soon, Fannie Mae's Day 1 Certainty program will be turning three years old. At the outset, the validation program was widely known for its ability to offer lenders freedom from reps and warrants. But today, it turns out there’s a whole lot more to the benefits of Day 1 Certainty than lenders initially thought.

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Topics: Mortgage Lending, DU Day 1 Certainty, Verifications

Important Digital Mortgage Statistics Mortgage Pros Should Know

Posted by Susan McCullah

Apr 30, 2019 9:42:59 AM

Digital mortgage discussions are everywhere! Blogs, news, and trade shows can't stop talking about them and their impact on the current and future mortgage industry. 

What are consumers saying and feeling about digital mortgages? What are the benefits and the drawbacks? We've compiled a list of the best, most up-to-date statistics available to shed more light on this important mortgage trend. 

STATISTICS TO KNOW

Millennials account for 36% of homebuyers in the market. 

More than 50% of all loan applications in the past two years included some online or mobile component.

67% of those with an existing home loan would feel comfortable completing a home loan application on a laptop or desktop computer, and 29% would be comfortable using a mobile device.

More than 30% of borrowers reported not comparison shopping for their mortgage.

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Topics: mortgage news, Mortgage Lending, mortgage trends, mortgage lending services, mortgage education, digital mortgage

Data Facts Announces Major Expansion to Appraisal Ordering Platform: The Verisite Plus Report

Posted by Susan McCullah

Mar 8, 2019 2:26:58 PM

 

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Topics: Mortgage Lending

7 Compliance Tips for Lenders to Get the Most Bang for Their Buck

Posted by Johnna Leeds

Dec 28, 2017 9:34:25 AM

 

We all know the lending compliance is highly regulated and takes considerable resources. Lender compliance costs put a strain on lender profits, can be frustrating and seem unreasonable.

And they keep increasing.

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Topics: Mortgage Lending, mortgage changes, Lending compliance, compliance tips for lenders, compliance costs in lending, mortgage lending services

Trick or Treat? Avoid these Mistakes During the Home Buying Process

Posted by Susan McCullah

Oct 31, 2017 1:11:40 PM

Is it what you hope is the last Halloween before you move into a new home? Are you dreaming of passing out candy to hungry zombies and beautiful princesses?

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Topics: Credit Score, Mortgage Lending, mortgage process

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