“IncomeGenius Retail makes automated income calculations accessible to small and mid-sized lenders and mortgage brokers who wish to gain efficiencies and accuracy in their income analysis process,” said Rajan Nair, CEO Indecomm Global Services. “This new product expands the availability of mortgage automation to a new market sector and provides opportunity to streamline an important part of the origination process, shorten loan cycles and improve pull-through rates. As brokers, small and mid-sized lenders look to concentrate their efforts on a high-quality pipeline, IncomeGenius Retail is available to make those determinations upfront.”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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