search
National Mortgage Professional
Trends
- 1
Mortgage servicer Newrez is using data from its loan servicing operations to generate repeat business for mortgage brokers. The company is leveraging insights on existing borrowers to help brokers identify new origination opportunities, according to National Mortgage Professional. The approach reflects a broader push among servicers to make servicing portfolios a source of future lending volume rather than just a back-office function.
- 2
Roughly one in five home listings is now seeing a price cut, according to National Mortgage News, as sellers adjust to a slower housing market. The report advises mortgage and real estate professionals to pitch rate buydowns to buyers instead of relying on price reductions, since financing incentives can lower monthly payments more effectively than cutting the sale price.
- 3Rocket Adopts VantageScore as Default Credit Score●Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings
Rocket Companies will make VantageScore its default credit score after internal testing indicated the switch would generate savings for borrowers. The move, reported by National Mortgage Professional, marks a notable shift in how the mortgage lender evaluates applicants and could broaden access to home loans for consumers whose credit profiles are better captured by VantageScore models than by traditional FICO scores.