Vantage says that the integration of Equifax’s Credit Hi-Lite program into its VIP platform will enable mortgage loan originators to optimize their sales workflow, provide borrowers with immediate eligibility decisions, and present loan options in an easy-to-understand manner.
"This will allow us to replace manual sales and marketing practices with more strategic and controlled processes: increasing our conversions while maintaining compliance," said Mike Maida, national sales director at GSF.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.