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Today’s Borrowers and their Credit Score: Findings from a New Research Study
CreditXpert recently fielded a major study of borrowers that recently purchased or refinanced a home. The study uncovered new insights into how consumers think about their credit, the mortgage origination process, and opportunities for improvements.
Among other things, our study revealed that consumers, especially first-time buyers, expect their lender’s guidance on how to improve their credit score to obtain the best possible financing for their new home. Those same borrowers, rightfully, equate the best rate with a high credit score. Since borrowers continue to choose their lender based on the best rates and terms, understanding how to help borrowers with their credit score couldn’t be more important for lenders looking to better serve applicants.
We also shared insights from several rounds of interviews with mortgage loan officers and executives. Timed for the 2022 purchase market, lenders will find these insights on borrower and loan officer sentiment helpful as they plan strategies for the coming market shift. This webinar focuses on how to build and manage healthy pipelines and improve closing results by concentrating on credit scores early in the origination cycle.
Join Mike Darne, VP Marketing, Dan Green, Strategic Marketing Insights of CreditXpert, and Cleve Corlett, Founder of Brand Planning to learn how first time, experienced and refi borrowers . . .
- Consider financing options
- Choose a lender
- Think about credit improvement potential
- Weigh tradeoffs of closing fast vs. getting the best rate and terms
You can download a copy of the Credit First guide here.
Related Credit Insights
CreditXpert, the mortgage credit score improvement platform, has released a new guide for mortgage lenders that highlights a new strategy for winning more purchase money mortgage business.