mortgage insurance: FICO credit scoring… making a move in the right direction!!
- 08/15/14 05:18 AM
On Friday August 8th Fair Isaac Company announced that their updated FICO 9 scoring system will FINALLY be doing some good for consumers. This is the first change to their scoring system in about 6 years. The 2 specific areas that this will help out on are: Medical collection reporting Limited/Thin trade-line borrowers When it comes to medical billing I’ve noticed over the years that once a bill from a hospital hits 31 days old… its immediately sold to a collection company. Confusion about the amount covered by insurance companies related to medications / procedures sometimes means people do not … (25 comments)
mortgage insurance: How do I cancel my MI (mortgage insurance)?
- 04/22/14 11:48 AM
I’m getting this question from many home-owners recently along with current purchasers who are comparing our special “no monthly MI” to options they hear from other banks and mortgage companies. The HOMEOWNERS PROTECTION ACT has 2 main points that homeowners who have loans with “monthly MI” should know and understand: Borrower paid MI must be cancelled automatically when the mortgage amortizes to 78% of the original property value. Borrower paid MI may be cancelled at the borrowers request if: The mortgage balance is 80% of the original property value Payments are current … (2 comments)
A smarter Realtor/Loan Originator team can make a transaction effortless for a buyer and lead to future business from them, their family, friends, co-workers and neighbors.
Raving fans of your service will WANT to share their experience.
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