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How Day 1 Certainty can improve your client's experience
How D1C can improve your client's experience
What's most important to a real estate agent when referring a buyer to a lender? Communication? Cost? Cobranded marketing offers? NOPE!
The #1 thing (get ready for the 'duh' moment) a real estate agent wants when referring a buyer is for that buyer to buy a home and get to the closing table, preferably with a smile on their face.
Day 1 Certainty (D1C) and direct-to-source data is allowing us to offer a happier loan process to buyers than they've seen since 2008 when they could do a "no-doc, you have a pulse you're approved" type loan.
So what is D1C?
In short, it's the guarantee from Fannie Mae and Freddie Mac that for conventional loans allows us to do mortgage loans for qualified clients with any of the following features - an appraisal waiver, no income documentation required, and/or no bank/asset statements required. For lenders using D1C, having a good loan officer will drastically increase your odds of receiving a waiver on any or even all of a loan's appraisal, income, and asset requirements. Knowing how to properly run AUS (automated underwriting system) and how to navigate the Work Number income verification ... more
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