Credit Services for Originators, Lenders and Borrowers
Among a host of credit-related services are supplemental credit reports, integrated offerings and credit restoration. One firm claims that loan originators can boost their referral business with one of its products.

Loan originators can generate business from professional referral sources using a 20-minute turnkey presentation from Cogent Road, an Oct. 5 news release indicated. The presentation explains how to legitimately re-score borrowers' credit scores through credit proofreading.

The process involves the identification of credit usage errors, evaluation of credit report accuracy and assistance with changing borrower spending behavior.
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DPA is Back
An Atlanta firm has launched an automated service that helps lenders find local downpayment assistance programs. The offering also acts as a lead generation tool.

Freddie Revises Income Requirements
reddie Mac is taking steps to address underwriting deficiencies on loans it acquires -- including tightening income requirements. The secondary lender also introduced new forms and stopped purchasing loans on certain types of condominiums.

Forms 1003, 1008 Revised
Fannie Mae has updated the Uniform Residential Loan Application and the Uniform Underwriting and Transmittal Summary.

Technology Boosts Mortgage Lead Conversions
A new offering promises to help loan originators convert more mortgage leads by delivering prospect data to mobile phones and other wireless devices as soon as the customer makes an inquiry.

New FHA Forms
The Federal Housing Administration has developed a new transmittal form and updated a loan application addendum form.

Credit Score Technology Boosts Prospects
A new study suggests that mortgage bankers could increase their pool of qualified prospects while weeding out consumers with artificially inflated credit scores by using VantageScore. The recently developed credit scoring system reportedly helps distinguish between high risk and low risk subprime borrowers.

Wholesale Goes Google
Nonconforming wholesale programs have significantly diminished as of late, and vertical search engines are pulling out all the stops to help mortgage brokers find available programs. Some wholesale search engines, which have seen their relevance balloon, now include credit reporting services in their offerings.

Companies Boost FHA Focus
IBM Lender Business Process Services Inc. said it has been approved and licensed to conduct origination services for government-insured loans. The regulatory actions were taken as IBM said it sees opportunity for its private label business with the growing demand for FHA.

Low Credibility for Mortgage Ads
The majority of Americans don't trust mortgage advertisements, according to a new survey.

Mortgage Technology Times
Although a big chunk of prospective borrowers prefer self-service technology, they still want face-to-face advice about getting a mortgage, a recent survey indicated. A new strategic alliance ensures secure loan processing with documents that are compliant with all state and federal regulations.