“Social media has become a ubiquitous component of today’s marketing strategies for loan officers and mortgage companies, so much so that lenders need more comprehensive tools for monitoring social media compliance than simply ‘the eyeball test,’” said MQMR President Michael Steer. “Because MQMR’s compliance team has conducted thousands of marketing compliance reviews, which include social media content, we are keenly aware of the challenge lenders face in this regard, and by providing an automated solution for monitoring, we are not only expanding our clients’ compliance coverage, but also providing them with valuable peace of mind.”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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