Anxious to return to normal.
By Curtis Knuth, CEO, Service 1st
We’re all anxious to get out of our houses and backyards. You can only paint the bathroom so many times or fix so many squeaky doors. Do you remember when we were so concerned about the presidential election or scheduling that summer vacation? I’m ready for normalcy – and in that same statement, I know for many families that’s a long and painful road ahead.
Our lender clients continue to process considerable refinance volume. As a benchmark, credit reporting volume has dropped this April compared to March, but certainly in line with summer months of the year.
In this newsletter, we’re highlighting how furnishers are reporting to the credit repositories and FICO’s response on how it will affect consumer credit scores. Additionally, with the high demand continuing in mortgage refi, we'll update you on Experian's alert service called Mortgage Payoff Watch. It notifies originators when prior clients have NEW event trigger(s) that indicate re-entry into the mortgage market, and may place origination fees made on previously closed loans at risk. This solution is needed within the current refinance market.
Keep in mind S1’s 5-day unlimited free trial to explore our income+ solution suite for income determination. This is a great tool for today’s environment of us all working remotely.
Additionally, S1 is an authorized supplier of Fannie Mae's Day 1 Certainty™.
Remember, we’re here for you. Thank you for your business!