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Credit-Readiness tips in a Changing Market
In today’s tight housing market, you face the heroic challenge of working with your borrowers to access the best loan deal. There are many factors that you need to consider. Additionally, the home-buying process for your borrowers is more likely to become extended, since they are struggling with finding the home of their dreams.
During these market dynamics, there are three reasons that CreditXpert® Wayfinder™ and What-if Simulator™ tools can help you be the hero for your borrower.
- Get your applicants credit-ready. The housing market is tight, and borrowers need every advantage to win the home of their dreams in a competitive market – and get it affordably. Use our tools to give them credit score improvement plans or anticipate future issues so they’re in the best position to buy when they’re ready.
- Be more competitive. Borrowers need the best rate possible to afford today’s higher home prices – so they’re likely shopping around. By helping them with score improvement plans, you can not only offer a better, more competitive rate, you also build borrower trust and loyalty.
- It’s profitable. A few minutes of your time can mean the difference between your client getting in their home or not – and the difference between you closing that loan or not. That doesn’t just make you a hero to your applicants, it helps you turn leads into customers. Doing the right thing has never been so profitable.
Rosa Mumm, our product support manager, shares credit analysis and simulation tips in this video so you can be sure to optimize your use of our tools!
Related Credit Insights
In this second installment of a three-part series Renata Sheyner, CreditXpert’s VP of Product, discusses the impact of keeping borrowers credit-ready in today’s tight lending market.
My previous two articles covered the importance of process design and designing a new purchase lending process that starts at the very beginning of the mortgage origination cycle.