News and Insights from CreditXpert

We regularly share tips for using CreditXpert products, Super User Spotlights and more. You can also subscribe to our newsletter, Xtra Credit to get news and tips delivered right to your email every month.

Is it true that mortgage lenders can’t report “lates” during the pandemic?

By Rosa Mumm | May 4, 2020

One of the most common questions we’ve heard from mortgage professionals is whether it’s true that lenders can’t report “lates” during the pandemic. The answer? No! The CARES Act governs how lenders report to the bureaus only in circumstances where they have reached an agreement with the borrower. In other words, if the borrower has…

NEW Video Series: Your COVID-19 credit questions, answered

By CreditXpert | May 1, 2020

There are a lot of unknowns amidst the current global pandemic. For instance, in our first Insights Poll last month, we learned that more than half (51%) of mortgage professionals are troubled that employment uncertainty may keep borrowers from applying for mortgages. If you’re facing challenges and have questions, our team is here to help.…

Super User Spotlight: Sheri Kagimoto, Aligned Mortgage

By CreditXpert | April 30, 2020

Sheri’s client was eager to purchase a property, but her credit score was too low to qualify for a loan due to outstanding student loans and derogatory medical debt. Using CreditXpert® What-If Simulator™, Sheri discovered that deleting the medical debt and reversing the derogatory information on the student loans would significantly increase the credit score.…

Xpert Tips: When your borrower has no cash for an improvement plan.

By CreditXpert | April 28, 2020

Borrowers can’t always pay down debt to help improve their credit score. Rosa Mumm, our product support manager, teaches you how to create a credit improvement plan that works for your client using CreditXpert® Wayfinder™ and CreditXpert What-If Simulator™:

Xpert Tip: CreditXpert® What-If Simulator™ “Last Reported” feature helps when rescores take longer than usual

By CreditXpert | April 28, 2020

Are rescores taking longer than usual? Learn a potential workaround from Rosa Mumm, our product support manager, using the CreditXpert What-If Simulator “Last Reported” feature and other insights:

Xpert Insights: How does forbearance impact the credit score?

By CreditXpert | April 24, 2020

How does forbearance impact credit scores? This is the top question we’ve received from mortgage professionals lately. Rosa Mumm, our product support manager, has the insights:

Maximize your team, get a competitive edge

By CreditXpert | April 15, 2020

While no one knows for sure what the future holds for our industry, it’s important to prepare and act with purpose. We put together a central DIY resource to help lenders do just that. Our Xpert Credit Process training materials help you implement the efficient system Dave recommended to readers of National Mortgage Professional Magazine. All it takes to start…

Spotlight: Industry perspectives from Dave Chung, co-founder

By CreditXpert | April 12, 2020

NMP Magazine’s Q&A with CreditXpert®: COVID-19 and beyond What will the mortgage industry look like after COVID-19? What steps can lenders make now to optimize resources, stay competitive and sustain their business in the long-term? Our co-founder Dave Chung recently shared his perspective in a Q&A with National Mortgage Professional Magazine.

Credit Tip: How do mortgage inquiries impact scores?

By CreditXpert | April 10, 2020

We know you get asked this a lot by your clients (and we do, too!). Don’t worry, we have you covered. Here are four fast facts to remember next time a borrower asks you about the relationship between mortgage inquiries and credit scores: Mortgage inquiries aren’t factored into credit scores until they’re over 30 days old –…

Xpert Insights: Does the comment “Impacted by natural or declared disaster” impact the score?

By CreditXpert | April 8, 2020

You’ve seen the comment “Impacted by natural or declared disaster” on your borrowers’ credit reports — but how does that affect their score? Our product support manager Rosa Mumm has the answer: