NAMB Marketplace combines a loan price comparison tool with a digital point-of-sale platform. Originators input a loan scenario and the product pricing and eligibility (PPE) engine automatically compares real-time prices between 18 wholesale lenders, including seven of the industry’s top 10 lenders. An array of product types are available, including conforming, FHA, VA, non-agency and non-QM. Once a lender and a price are selected, originators instantly send an e-mail invitation to a borrower, enabling rapid collection of loan application information in both a desktop and mobile format.Lender reports a 62-basis-point reduction in loan-level pricing adjustments for qualifying transactions and removes an 80% LTV restriction as alternative credit scoring gains traction
CrossCountry Mortgage is reporting an estimated $2,500 in average borrower savings from its adoption of VantageScore 4.0, adding to a growing body of lender-reported results showing how competition between credit scoring models is translating into lower loan costs.The Clevel...
After years of chasing production numbers, one mortgage sales veteran learned that closing deals means little if you lose the trust of the people behind them
"Listen, your credit is crap. If you don't want the deal, move on."I said that to a borrower once. Word for word. The part that bothers me now isn't just what I said. It's that I didn't think about him again. He walked out, and I went right back to work.Early in my career, I...
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