SmartFees provides an automated fee solution that gives Plaza mortgage brokers immediate access to vendor-verified closing costs with an audit trail and a data-backed guarantee. The integration allows BREEZE users to quickly search for and select a closing agent and title company in their specific markets. SmartFees will integrate the loan file information, transfer tax and recording data, as well as service provider fees, including land surveys and other services required depending on the property’s location, from more than 70,000 rate cards. Lender business rules and other requirements are also feed into BREEZE—allowing Plaza Home Mortgage brokers the ability to originate mortgage confidently and compliantly.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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