According to the Seattle-based company, the new Zestimate incorporates neural network and computer vision technology to distinguish between high and low-end finishes, with the goal of better estimating the value of interior features like updated bathroom fixtures, fireplaces, and remodeled kitchens. The Zestimate upgrade also includes real-time data from for-sale homes, including list price and how long a home has been on the market. Zillow added that the new features will result in greater valuation accuracy, boasting a new error rate of less than two percent.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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