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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Warren Alcorn Uses CreditXpert® What-If Simulator™ to Help Get Client to Underwriting Approval Warren had a client with an initial middle FICO score of 575 looking to buy his first home. Warren knew at least a 580 was needed for minimal FHA eligibility, and even higher for potential automated underwriting approval. But “good enough” just wouldn’t…

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Fannie Mae predicted that mortgage rates would remain relatively low throughout 2020. Specifically, they forecast that 30-year fixed mortgage rates will stay near 3.7% – lower than last year’s average rate of 3.9%. Now is a great time to make sure you and your team are ready to help home buying and refi applicants looking…

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Scott met with a couple hoping to buy their first house together. With a mid-score of 717, they had all they needed to secure a loan. But Scott almost lost the deal when a competitor offered a similar rate but with slightly lower closing costs. Using CreditXpert® software, Scott built a credit improvement plan that required…

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