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Blend’s soft credit pull function supports Fannie Mae’s DU early assessment

Housing Wire

DU early assessment gives lenders more options for their pre-qualification process in DU. In the face of the industry facing higher credit report fees, Blend rolled out its soft credit inquiry function for lenders in May, which can save lenders about $50 per file for borrowers, Blend said at the time of the launch.

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FinLocker raises $17M in Series B funding round

Housing Wire

The company said it will be using generative artificial intelligence (AI) and machine learning technologies to provide customers with personalized recommendations, credit management solutions, budgeting assistance and loan qualification tools. million in pre-seed funding in 2016.

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UWM expands its hard credit reports program

Housing Wire

In addition, in its Safe Check Complete version, launched Wednesday, the broker can order a pre-qualification based on a three-bureau soft credit check for $23. The strategy is expected to court more brokers in an industry facing higher credit report fees.

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One lender begins targeting Gen X for reverse mortgages

Housing Wire

One of the ways that RMF approached the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team pursuing different options to enhance its offerings, similarly to the way the idea to streamline borrower qualification came about. Generation X.

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What originators may not know about non-QM lending

Housing Wire

Everybody in the industry knows how fast rates have gone up this year,” Hutchens said. I do think a primary issue that has come up over these years is that non-QM borrowers and non-QM loans, they’re not the subprime of the pre-financial crisis,” he said. We’ve been educating originators since 2013.

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Opinion: Reframing the American Dream of homeownership

Housing Wire

As industry professionals, we have a responsibility to foster belief in the possibility of homeownership. It may mean drilling down and familiarizing yourself, and your potential clients, with the ins and outs of credit repair, loan pre-qualification and pre-approval, and even basic personal finance and budgeting.

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How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

HW: How has the financial industry’s response to COVID accelerated the need for digital tools? VL: The financial industry’s response has been swift and impactful, by lowering interest rates and providing fiscal stimulus – for the benefit of consumers and loan originators, of course.