The Detroit-headquartered company used the Nexsys Clear Sign eClosing platform from Nexsys Technologies, a Detroit-based fintech company. The transaction was a refinance transaction for a metro Detroit homeowner. Amrock Inc. was the title and closing agent for the mortgage, and the notary who completed the closing was Amrock’s Julie Felts, the first electronic/remote notary to be approved and registered by the State of Michigan.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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