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By | March 13, 2024
“We have thousands of mortgage originators that currently rely on CreditXpert tools like Wayfinder and What-if Simulator. These credit optimization tools allow our clients to close more loans, lower the cost of homeownership and improve their margins,” said Xactus President, Shelley Leonard. “Working with CreditXpert to enable their new platform supports our commitment to helping lenders access tech that enables a modern mortgage experience.”
By | March 13, 2024
Are you one of the 50% of mortgage borrowers who apply with multiple lenders in pursuit of the best rate and terms? If so, you're not alone. We recently surveyed borrowers and found that half believe applying with several lenders is the key to securing the most favorable mortgage deal.
What Credit Score do Mortgage Lenders Use?
By | February 23, 2024
As a lender, the initial factor to consider is the credit score of a borrower. This metric assesses whether an individual is eligible for your loan offerings or if they require an enhancement of their credit status to qualify. While lenders might utilize various scoring systems, the ultimate objective remains consistent: to verify that borrowers have the financial capacity to manage their mortgage repayments.
By | January 31, 2024
Mortgage lenders experienced a rude awakening when, after years of neglect thanks to historically high refinance volume, they reached out to touch bases with their real estate agent business referral partners. The relationships they thought they would easily rekindle were no longer there.
When loan volumes fell, real estate agents who hadn’t heard from a mortgage broker or loan officer in years were suddenly getting multiple invitations to coffee or lunch every day. They ignored most of them.
By | January 8, 2024
What happens to Wayfinder and What-if Simulator after October 1, 2024? CreditXpert has traditionally been distributed through Credit Reporting Agencies (CRAs) and accessible to mortgage professionals as they order credit and verification services. Starting October 1, 2024, Wayfinder and What-if Simulator will be sunsetted and no-longer available for purchase through CRA’s. Instead, the new CreditXpert platform will be offered directly through CreditXpert.
By | December 29, 2023
“As a growing mortgage fin-tech, we have spent a lot of time establishing and maintaining a strong company culture,” said CreditXpert VP of People, Janette Hunt. “We have seen the impact of a strong culture with our existing team members and believe that it will help us as we look to grow our team by another 80% in 2024.”
By | December 28, 2023
Help consumers find what they can’t on their own - how to optimize their credit, get a lower interest rate and mortgage purchasing power during the homebuying process.
Credit Potential Index – October 2023
By | December 8, 2023
CreditXpert analyzes millions of mortgage credit inquiries each month. We use our proprietary predictive analytics engine to help thousands of mortgage loan originators highlight the potential score increase their applicants may be able to achieve within 30 days by completing a custom action plan.
Credit Potential Index – September 2023
By | December 5, 2023
CreditXpert analyzes millions of mortgage credit inquiries each month. We use our proprietary predictive analytics engine to help thousands of mortgage loan originators highlight the potential score increase their applicants may be able to achieve within 30 days by completing a custom action plan.
Credit Potential Index – August 2023
By | November 20, 2023
CreditXpert analyzes millions of mortgage credit inquiries each month. We use our proprietary predictive analytics engine to help thousands of mortgage loan originators highlight the potential score increase their applicants may be able to achieve within 30 days by completing a custom action plan.
By | November 8, 2023
By the time a new home buyer completes the mortgage loan application, most of the money in the lender’s cost-to-close has already been spent. That’s because marketing and sales make up the lion’s share of closing costs. If the loan doesn’t close—which is happening much more often in a downturn—no one gets paid. Worse yet, high fall-out adds to an already high cost to close. Check out these steps to try to avoid roadblocks during the homebuying process.
By | October 26, 2023
In a recent video with Mortgage Bankers Association, Mike Darne sat down with the team to discuss the current state of the market. Here's a brief summary and full video below: As many of us already know, the 30-year fixed rates have approached the 8% mark. This is significantly increasing the cost of homeownership and, for lenders, reducing the pool of potential borrowers. So what can be done in the short run to tackle this challenge? Let's return to the three Cs of mortgage lending: capacity, collateral, and credit.
FHA Change Helps Previously Denied Borrowers
By | October 23, 2023
While it’s true that helping borrowers raise their credit score can mean a better deal on their next mortgage for over 70% of all loan applicants and this goes a long way toward helping loan officers stop loan fallout, the borrowers that often get the most benefit are at the lower end of the spectrum.
White Paper: Why Aren’t Millennials Buying Their First Homes?
By | September 26, 2023
Mortgage lending can feel like rocket science at times... Here’s everything you need to know about how to leverage credit scores and turn it into a strategic business advantage. Fannie Mae and Freddie Mac announced potential changes to their Loan Level Pricing Adjustment (LLPA) tables. In the lending industry, it's essential to be aware of these updates and understand how they can be advantageous to the business — the importance of consumer credit in predicting lender profitability is crucial, especially with these new LLPA changes. These adjustments will significantly impact both lenders and borrowers in the industry. But how?