Articles Tagged with ''LendingTree''

[VIDEO] Will your mortgage application be denied?

Find out what factors could get your application denied, according to LendingTree
Recent research from LendingTree suggests that about 8% of borrowers are denied when applying for mortgages, and certain cities actually have higher rates of rejected mortgage applications. Check out this list to see the top 10 cities with the highest rates of denials... and the reasons why.
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LendingTree expands credit repair business, plans to acquire Ovation Credit Services

Consumer credit educator gets off the bench and in the game
LendingTree entered into a definitive agreement to acquire Ovation Credit Services, an online credit repair company, for $20.75 million. Ovation’s claim to fame is its proprietary software that smooths the process of credit repair. Up to now, LendingTree has been on the sidelines operating as an educator and facilitator for credit consumers, but this move puts them on the field and in play.
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LendingTree reveals the cities with the highest rates of denied mortgage applications

Here are the leading reasons for denials
[Expert commentary] As the spring selling market heats up, buyers continue to face increasing odds against finding their dream homes. Inventory is low, demand is high and rates have been steadily creeping upwards for months. These factors are only complicating what can already be an arduous experience for would-be homebuyers hoping to get approved for a mortgage. In a new study analyzing more than 10 million mortgage application records, LendingTree found nearly one out of every 10 mortgage applicants, or 8%, is denied at the national level.
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For loan officers who want steady business in 2018, it’s time to embrace cash-out refinances

Lenders hoping to boost their refi business this year need to change the way they sell
Remember when it was easier to sell homeowners on refinances? Mortgage interest rates were low enough that most owners could save money each month with a traditional rate and term refinance. As interest rates have risen, that has changed and lenders hoping to boost their refi business this year need to change the way they sell. Instead of promoting the savings homeowners can get from lower interest rates, they may consider trying a new angle...
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Loan officers should be able to answer this question in 30 seconds or less

Ask yourself this: Why should borrowers do business with you over the competition?
[Op-ed] Mortgage loan officers face a challenge this year: With mortgage interest rates on the rise, the pool of eligible rate/term refinance borrowers shrinks. As that side of the business is waning, loan officers must work harder to earn a borrower’s business. So, ask yourself this: Why should borrowers do business with you over the competition?
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Here's how loan officers can gauge the aggregate level of price competition in the mortgage market

New index from LendingTree measures the spread in the APR of the best offers
More competition is the theme for 2018 and LendingTree has created a way for loan officers to gauge the aggregate level of price competition in the market in real time. Released weekly, LendingTree's Mortgage Rate Competition Index measures the spread in the APR of the best offers available on LendingTree relative to the least competitive.
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Explaining the disconnect between the rate borrowers want, and can get

You may need to break the rates process down for them
Most quoted industry rates are for a hypothetical borrower with prime credit who makes a 20% down payment. Yet, most borrowers do not fit this profile and often experience disappointment when the rate on their loan turns out to be meaningfully higher than what they believed prevailing rates to be. Many loan officers have likely experienced having to explain this discrepancy to borrowers with varying degrees of success.
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