Female, Single Millennials Rising in Homeownership

According to a recent study released by Ellie Mae, more single females from the millennial generation are buying homes than single men. While most borrowers are married men, the single cohort offers what many may consider a surprising result. From the millennial generation, 60% of women that were listed as the primary borrower were single….

FHFA Considers Alternate Credit Scoring System

The venerable FICO scoring system for rating borrower’s credit has been a foundational piece of the mortgage process for nearly 30 years. The major credit bureaus (Equifax, Experian, and TransUnion) compile consumer credit files, which are then used to calculate the FICO credit score. While the system was the best attempt for a mathematical solution…

How to Improve Your FICO Score in a Year

Your FICO score is one of the most important measurements in acquiring credit for a mortgage loan. It’s important to note that it is not the only measurement taken into account. You should always consult with a mortgage broker or loan officer on your qualification for a loan. There are a lot of different types…

5 Tips for Millennials Investing in Real Estate

Millennials, the largest living generation in the United States, are poised to enter their prime homebuying years. While the housing market has presented its challenges, particularly with shortages in some markets and increasing prices, many Millennials are still quite eager to buy. The same challenges that can make buying a home challenging could also be…

Are Mortgage Credit Standards Too Tight?

The Global Financial Crisis of 2008 left a lasting mark on the American economy and in particular, the mortgage industry. Prior to the GFC, some lenders were offering “NINJA” loans, the acronym for  “No Income, No Job, and no Assets”. It’s easy to see some of the flaws in the system looking back. The federal…

4 Ways Borrowers Can Improve Their Credit Score

The credit score, sometimes referred to as the FICO score, is one of the most important numbers that Americans will carry with them throughout their lives. It is a measure of their ability to receive credit, and credit is a major part of doing business, buying a home, and many other things. A consumer can…