More and more, the industry has been seeing a decrease in credit limits. Historically, lenders have taken this action to reduce risk in times of economic uncertainty. In the last few months, some large credit card issuers have reported tightening credit lines to stem losses related to the coronavirus pandemic. As we described in a…

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Mortgage payment calendar reminder

According to the Mortgage Bankers Association, 8.46% of mortgage loans were actively in forbearance at the end of May. Before the COVID-19 crisis impacted the economy, the forbearance rate was much lower at 0.25%. Many consumers are worried about its long-term effects on their credit scores as the pandemic continues. This guide can help you…

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CreditXpert Wayfinder screenshot

We asked mortgage professionals in our CreditXpert Labs community to share the target mid-score they’re most often aiming to reach when using our software. As of late May, 640 (40%) and 660 (35%) took the top spots – does this reflect your pipeline, too? As loan volume continues to soar, it’s important to work more…

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