Wholesale lender says alternative scores are producing lower rates or reduced LLPAs for some borrowers
United Wholesale Mortgage says approximately one-quarter of borrowers across its current pipeline are receiving a more favorable credit result when evaluated with VantageScore 4.0 instead of the Classic FICO model.According to UWM, a more advantageous result generally means ...
Prime rose to 7% while the 10-year Treasury remained near 5%, giving originators two different borrower conversations
The Federal Reserve’s first rate increase in more than three years will not affect every mortgage borrower the same way.Major banks immediately raised their prime lending rates from 6.75% to 7%, increasing the benchmark used by many variable-rate home equity lines of credit....
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