When you purchase a new home or refinance with a completely online digital mortgage lender like Warp Speed Mortgage, secure online tools can provide major benefits to both yourself and the lender. One tool that is critical to efficiently moving you through the mortgage process is digital asset verification. Part of the traditional mortgage process […]
Online Digital Mortgage Technology: Digital Asset Verification Read More »
No matter how you look at it, your credit score plays a big role in whether your mortgage application is approved and what rates you qualify for. To a lender, your credit score indicates your dependability as a borrower and, generally speaking, the higher the credit score, the better. As with anyone, lenders want to
Credit Score: How Important Is It? Read More »
When you complete your mortgage loan application, you may notice some seemingly out-of-place questions about your race, ethnicity, and gender. Seeing these questions may have you wondering “Why in the world does my lender need this information about me?”. You’re not required to provide this information, but as it turns out, these questions exist to
Demographic Information When Applying for a Loan Read More »
Bounced checks If your checking account contains multiple overdrafts or NSFs (non-sufficient funds) charges, underwriters are likely to think that you’re not great at managing your finances. Mortgage rule-making agency Freddie Mac says that additional scrutiny is required when bank statements include NSF fees. Large, undocumented deposits Outsize or irregular bank deposits might indicate that
3 Things Lenders Don’t Want to See on Bank Statements Read More »
