We constantly talk about regulations, compliance, and technology, among other things. But a mortgage is intended for a person whose sole function isn’t to spend days faxing documents.
Improving the user experience benefits everyone, from the borrower to the originator. One idea is to change the way that things are done behind the scenes, starting with the underwriting process. And that’s exactly what cloudvirga, Skyline’s sister company, has been doing.
Recently, National Mortgage News published an article about how cloudvirga and others are changing the process. Click here to view the article to see what’s being done and what the future will look like.
Internet connectivity has brought many benefits to modern society, but one of the drawbacks is that internet users and companies are vulnerable to information breaches.
Recently, credit bureau Equifax was hacked with 143 million people potentially affected by the data breach. Many details about the hack aren’t available, and though this news is unfortunate, there are things that can be done to safeguard your credit.
First thing’s first, check to see if you were affected by the hack. Click on the link below to get a step-by-step guide.
Whether you were affected or not, it’s a good idea to protect yourself. Many things can happen that may put you at risk.
Here are a few steps that you could take to keep your credit safe:
- Set up alerts with the three big credit reporting agencies to see if someone is using your credit. Same goes for credit and debit cards. You can even have push notifications set up.
- Look into freezing your credit so that new companies that you don’t currently work with will not be able to access your credit.
- Keep an eye on your credit history.
- Consider a credit monitoring service. Right now, Equifax is offering a year of credit monitoring for free, but make sure you look into the fine print.
Source: New York Times, Sept 10, 2017
Yesterday, interest rates fell to the lowest they’ve been all year! This is great news for those who are ready to purchase a home or are considering refinancing.
Mortgage rates can change at any moment; that’s why it’s so important to strike while the iron is hot.
Rates for home loans fell in line with Treasury yields, nudging mortgage rates to the lowest level of the year, Freddie Mac said Thursday.
The 30-year fixed-rate mortgage averaged 4.08%, down 2 basis points during the week. The 15-year fixed-rate mortgage averaged 3.34%, down from 3.36%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.18%, down one basis point.
The 10-year Treasury yield fell five basis points during the week as investors continue to re-assess the expectations for fiscal stimulus and economic growth that followed the November election even as fresh geopolitical worries flared. The benchmark government bond breached a key technical level, 2.30%, twice during the week.
Mortgage rates generally track the 10-year Treasury, but that relationship faltered briefly
earlier this year.
Read the source article at MarketWatch