The FICO credit score was introduced many years ago and touted as the end-all for determining a prospective borrower’s creditworthiness. The better the score, the more likely the borrower would repay the debt. The lower the score, look out, higher potential for default. Simple, right? No more! Today, we’re told that maybe this revolutionary predictor may be outdated and in…
Over a month after we all sat down and tried to improve our lives through our New Year’s resolutions, here is one that came up this year that is a little disheartening. Hopefully, this is a resolution that will not be kept. According to a Debt.com report, buying a home is not at the top of the ‘to do’ list…
We all sang and heard the childhood nursery rhyme. But, Mary really never reveals how she makes her garden grow. Maybe, it’s her secret to success. One she doesn’t want to share with her competition. Guess we’ll never know. At the MBA’s Independent Mortgage Bankers Conference in Florida, attendees heard from Todd Duncan, founder & CEO of High Trust of…
In case you haven’t heard, there are some changes going on down at the CFPB. The new Administration is trying to foster a more business-friendly atmosphere while maintaining the CFPB’s mission of consumer protection. Can it be done? Only time will tell. The conversation, or should I say debate, has begun. With Mulvaney now as Acting Director, moves are being…
Fraud has always been a problem for mortgage lenders. But, now it’s starting to really get interesting and expensive. In the past, instances of fraud mainly centered around the consumer trying to get away with providing misrepresented information to get approved for their loan. Some instances dealt with unscrupulous parties creating bogus loans based on fictitious information to reap some…
Excuse me if I take a little detour from business to congratulate my hometown Eagles for winning what may be considered the biggest game in their storied franchise history; the Super Bowl. I can finally say the Philadelphia Eagles are World Champions. What a team, what a game, one off my bucket list. It just goes to show what careful…
