Alternative Credit Scoring Options

The traditional means of assessing the risk of a potential borrower is under review around the nation. The Great Recession of 2008 triggered a wave of regulatory restrictions on underwriting criteria. Many Congressional legislators aimed to restrict the types of products that were marketed to the American consumer with the goal of eliminating financial products…

Can You Get a Home Loan with Bruised Credit?

Many people view home ownership as something that is out of reach, whether it’s due to their financial situation, their inability to afford a down payment or their challenged credit score. But the truth is that home ownership can be a much more viable option than you might believe, even if you have bruised credit….

The Pacific Advantage: Bruised Credit

Welcome to our Product Overview for Mortgage Pros. Pacific Union Financial recognizes what should be obvious, but seldom is – folks with mortgage expertise need the best tools in order to succeed. So we provide them. This series demonstrates that we have the range of products and tools to help accomplished mortgage professionals do what…

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…

Pacific Union Financial: Growth is On the Record, Off the Charts

When we reached $2 billion in locked volume across the distributed retail, wholesale, and correspondent channels in May of this year, we were justifiably pleased. As it turns out, other people have noticed. As covered in HousingWire Magazine’s “Lending Leaders” section, Pacific Union has been on the move. Since 2013 we have: More than quadrupled our workforce…

5 Tips to Help Borrowers with Student Loans Get Financing

Thousands of Americans rely on student loans to finance their college education. These loans, while an investment on future earning potential, can make getting a home loan more difficult. One of the most important things a borrower can do is to approach lenders with as good a credit profile as possible. Obviously, tens of thousands…

Why Many Believe Homeownership is Out of Reach

A recent survey conducted by Bankrate.com revealed the main reason that non-homeowners do not buy their first home. According to the survey, nearly half of the respondents attributed their lack of homeownership to finances. Of the 45% saying it was their financial situation, 29% said it was due to their inability to afford a down…

Understanding FHA Mortgage Insurance

An FHA mortgage has several great advantages. They can make buying a home a real possibility for millions of Americans that might not otherwise have that option. For candidates with low FICO scores or the inability to save for a large down payment, a mortgage insured by the Federal Housing Administration may be a solution….

Best Mortgage Notes on the Web: February 2016

Here are some of the past month’s best Internet articles relating to the mortgage and housing industry: March 2016 Mortgage Rate Forecast The Mortgage Reports | February 29, 2016 Two months into 2016, today’s mortgage rates continue to defy Wall Street predictions. According to Freddie Mac’s weekly mortgage rate survey, 30-year mortgage rates dropped again last week to…

10 Reasons Why FHA Mortgages Remain Popular with Borrowers

There is perhaps nothing more attractive to first-time homebuyers than no and low down payment mortgages. Saving up a down payment of 5 percent or even 10 percent is a significant barrier to entry for many Americans. Among the most popular mortgage options with these borrowers are FHA loans. The Federal Housing Administration is behind…