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.
Xpert Insights: Credit scorecards – What are they and why do they matter?
What is a credit scorecard? How does it affect your borrower’s credit score? Our product support manager Rosa Mumm answers these questions and more in her new “Xpert Insights” video.
Forbearance 101: Explaining the effects of forbearance to your clients
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…
Product Spotlight: Work smarter with CreditXpert® Wayfinder™
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…
Xpert Insights Video Series: How do I explain the different credit scores to my clients?
In her recent Xpert Insights video, our product support manager Rosa Mumm delves into the various types of credit scores – a topic that can confuse borrowers who are only familiar with scores available through sources like free credit websites or their credit card company. Learn how you can explain to your clients why those…
Helping borrowers during the COVID-19 crisis
You have been working hard – really hard – to ensure your clients not only get approved, but also get the best rate possible. With ever-changing mortgage requirements, this is no small feat. Every win is another individual or family who has a new place to call home in these uncertain times. We want to…
Xpert Insights: How do mortgage inquiries really impact the score?
How do mortgage inquiries impact the credit score? We’re asked this question a lot by mortgage professionals. Get the facts from Rosa Mumm, our product support manager, in her latest “Xpert Insights” video.
Is it true that mortgage lenders can’t report “lates” during the pandemic?
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
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
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.
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™:
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