A borrower's credit report provides a valuable snapshot of their financial health. Mortgage lenders have been using it for years to underwrite their deals, credit is, the most dynamic of the 3 Cs of lending, and it has proven a reliable source of data to predict loan performance. But it can be more than that if the lender learns not to take the borrower’s credit at face value.

As interest rates remain high and the long-term market outlook is uncertain, lenders are evaluating strategies to strategically grow their mortgage portfolios. As a result, many organizations are selling off portfolios to aggregators, which has led to a heightened level of mortgage servicing rights (MSR) purchases and transfers. For lenders looking to purposefully grow their mortgage portfolios, the increase in MSR activity presents a unique opportunity.

Rising interest rates and high inflation are putting a strain on mortgage holders. The 2023 J.D. Power U.S. Mortgage Servicer Satisfaction Study found a significant decline in customer satisfaction compared to the previous year. J.D. Power attributes this decline to a combination of weaker financial health, an increased rate of mortgage transfers and a rise in issues resolving account problems.

Personnel news from Guaranteed Rate, PCV Murcor and Click n’ Close.

Mortgage applications decreased 1.3 percent from one week earlier, according the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 22, 2023.

There are truths and falsehoods about eMortgages. Join the MISMO eMortgage Community of Practice for a webinar that will discuss the common misunderstandings about eMortgages and what is being done in the industry to overcome them.