Data Facts Lending Solutions Blog

Close More Loans with the Expedited Rescore Program

Posted by Jennifer Hamby

Jul 7, 2014 7:30:00 AM

A few credit score points can mean the difference between a good mortgage rate, a lousy one or getting a loan at all. In the current state of matters, letting a loan “die on the vine” is not acceptable.  You must explore every avenue possible to drive that loan to the closing table.   While time is of the essence, you also know that dealing with less than reputable “credit repair” companies is not the direction you want to take.  

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Topics: Mortgage loan, Credit Score, Improve Credit Score, Mortgage Lending

Close More Loans NOW, Using Social Media

Posted by Jennifer Hamby

May 1, 2014 11:48:49 AM

 

Ok, so we’ve all heard the mortgage projections for 2014-2015.  Yikes!  The Mortgage Bankers Association forecasts overall originations will be down close to 20% this year with refinance originations down over 50% due to slowly rising interest rates. 

Now is the time to get creative, get a plan, and forge ahead.  Get outside your comfort zone, try a new strategy, and most importantly, be consistent.

 How about Social Media?  Gone are the days in which social media was merely thought of as an avenue for sharing photos and reconnecting with lost friends and classmates. Social media has transformed into a direct line into the mind of the customer, as consumers freely share their opinions on various products, services and brands with their friends, family and followers

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Topics: social media, Mortgage loan, Mortgage

5 Tax Deduction Tips for Homeowners

Posted by datafactssolutions

Mar 13, 2014 1:20:27 PM

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Topics: Data Facts blog, Data Facts, Mortgage loan, Mortgage, finances

H.A.R.P. Has Been Extended!

Posted by datafactssolutions

Jan 23, 2014 8:56:00 AM

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 31st 2015.

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

Partners Against Crime. Data Facts Helps You Combat Lending Fraud.

Posted by datafactssolutions

Nov 21, 2013 3:10:00 PM

The prevalence of mortgage fraud is still a scary fact.

According to the FBI, 13 billion dollars were lost in fraudulent mortgage loans in 2012. Over 60% of mortgage fraud includes ID discrepancies and in most cases the fraudster uses a mixture of accurate and “borrowed” information. These crooks operate this way hoping that lenders will not check every bit of information and the loan will be approved.

Luckily, there are reports available to mortgage lending companies to combat this issue, and offer some protection. This can help preserve the bottom line.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, mortgage news

Look Before You Leap on the Social Media Bandwagon

Posted by datafactssolutions

Sep 11, 2013 4:27:00 PM

As more and more people sign on to Facebook, Twitter, Pinterest, and the many other social media sites available, hiring professionals are becoming more tempted to take a peek at the information before hiring an applicant. Who can blame them? There is virtually a goldmine of potentially valuable information to be gleaned from a person’s profile, blog, photograph, or collection of tweets. Lending institutions could benefit greatly by knowing about a mortgage professional’s online presence up front.

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Topics: Data Facts blog, FCRA, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, credit cards, credit history, Compliance

DATA FACTS, Inc. to Attend the MBA's 100th Annual Convention and Expo

Posted by datafactssolutions

Aug 5, 2013 2:06:00 PM

Data Facts will be introducing a full suite of products that will help streamline the lending process and keep Lenders in compliance. In today's financial climate, it is becoming more evident by utilizing bundled services from a single provider Lenders will be able to serve clients more effectively, profitably and will emerge as industry leaders.

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Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, MBA, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, MBA's 100th Annual Convention and Expo, mortgage news

Mortgage Triggering: Who is contacting my customer?

Posted by datafactssolutions

Jul 9, 2013 9:11:47 AM

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.

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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

Back On Track: The Housing Market Is Changing For The Better

Posted by Stacie Shelton

Apr 19, 2013 9:30:00 AM

The housing market is improving much faster than anyone would have expected a year ago. Nationally, the prices of homes increased by 10% since February of 2012. However, many in the industry think that this may be cause for concern. They are nervous that the fast pace of recovery will cause another bubble.

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Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, Mortgage compliance, short sale, mortgage fraud, finances, credit history, Mortgage triggering, Strong password, FHA, mortgage news

Debt Relief Act Extended Through 2013

Posted by datafactssolutions

Mar 6, 2013 8:50:29 AM

For the past few years, homeowners were able to utilize a tax break (part of the Mortgage Forgiveness Debt Relief Act) when dealing with a short sale. Fortunately for many, this debt relief has been extended until the end of 2013.

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Topics: Data Facts blog, wordpress blog, Data Facts, Mortgage loan, Mortgage, Credit Score, short sale, finances, HARP 2.0

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