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.

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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 –…

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We’re focused on meeting your needs in this uncertain landscape. The COVID-19 crisis is challenging for everyone, but it’s affecting our industry in a unique way. While we’ve faced economic downturns in the past, the current situation is vastly different than anything most of us have experienced before. We know you’re working around the clock –…

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We love seeing the amazing ways mortgage loan originators use our tools to make clients’ homeownership dreams a reality. In fact, we’re gathering examples to use in Super User spotlights, case studies and more. Do you have an outstanding success story that demonstrates how utilizing CreditXpert’s solutions made a big impact on a client outcome? If so, we want…

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Many people assume the passage of time always helps the credit score. However, about 30% of all mortgage applicants experience a score decline during the next calendar month due to information already in the credit report. Here are a few examples: Changing scorecards. Age of accounts is a key factor to determine the credit scorecard.…

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Want to avoid unnecessary rescore fees? If you click the “Opened” date in CreditXpert What-If Simulator, you can see when account data was last reported. Since this date is typically consistent (within a day or two) each month, you can then determine when the account is expected to report naturally.

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Everyone has their comfort zone. Many mortgage loan originators defer an applicant with a credit score below 620 (the minimum to qualify for a conventional or VA loan). Others are satisfied when an applicant’s score is in the good range, around the low 700s. But these lenders are missing big opportunities to improve customer satisfaction…

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