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Green mortgages, also known as Energy-Efficient Mortgages (EEM), offer financing for homeowners or buyers to implement energy-saving upgrades. The aim is to make eco-friendly improvements more accessible, reducing both environmental footprint and energy expenses. The crucial aspect is to fund modifications that substantially decrease monthly costs, making the added mortgage expenses a worthwhile investment.

Demystify credit scores with the help of the new CreditXpert - know in seconds what opportunities you'll have to optimize credit.

When lenders offer to help borrowers optimize their credit and either qualify for a loan they otherwise would not have or get a better deal on a loan they were already qualified for, it builds trust and provides other emotional benefits that result in more business for the lender.

But that’s not all it does.

There are other reasons lenders should lean in here as well, including the money they can save on LLPA premiums when credit scores are higher and the money they can save their borrowers on PMI, should they need it and possibly lower homeowner insurance premiums.

But how can they do it? It may surprise you to know that optimizing credit is so simple, it takes just one click.

Mortgage insurance is a lender's protection in case a borrower defaults on a loan. It's included in monthly mortgage payments and is critical for loan approval. The kind of mortgage insurance—PMI for conventional loans or MIP for others—depends on the loan type. PMI is mandatory when the down payment is below 20% and can be canceled once equity reaches 20-22%. There are different PMI payment plans, with Borrower-Paid PMI being a prevalent option that divides the annual premium into monthly installments.

Uncommon knowledge: Mortgage and consumer credit scores are quite different. What's different? How are each calculated? Why are there two scores?

Refinancing can lead to substantial savings, particularly if we enter a period of lower interest rates. The decision to refinance should be based on a comprehensive assessment of your financial situation, not merely the desire to snag a lower rate. Strong credit and careful consideration of all related factors will help ensure that refinancing your mortgage is a financially sound choice.

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.

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.

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.

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.

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.

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.