2017 2nd-Quarter Lender’s Sentiment Survey: Mortgage Lenders to Ease Credit Standards Further Credit Easing seems to have become the norm this mortgage season. More mortgage lenders, compared to last quarters sentiment survey, say they have eased credit standards and may further ease in the coming months. What types of loans are lenders planning to ease in the next 3 months?…
If you are still relying on FICO score to determine the creditworthiness of an individual, then you might soon be outpaced by your competitors. Today, tech savvy lenders are using data from disparate sources to understand an individual’s risk profile. For instance, data drawn from LinkedIn or social media, can provide lenders with a more accurate picture of borrowers, and…
Confusion over mortgage applications has for long been one of the most challenging aspects of buying a home. In a recent Wall Street Journal survey, two-third of the respondents agreed that understanding the process itself is the most difficult step in buying a home. No wonder those who survive the process have a tongue-in-cheek name for it: “financial colonoscopy” or “forensic…