Become an Expert on Mortgage Credit Reports
5.0 /5- Offered byUDEMY
Become an Expert on Mortgage Credit Reports at UDEMY Overview
Duration | 2 hours |
Total fee | ₹389 |
Mode of learning | Online |
Credential | Certificate |
Become an Expert on Mortgage Credit Reports at UDEMY Highlights
- Certificate of completion
- 30-Day Money-Back Guarantee
- Full Lifetime Access
Become an Expert on Mortgage Credit Reports at UDEMY Course details
- Learner will learn how to read a tri-merged residential credit report
- Learner will learn how to understand different terms and numbers that appear on credit reports
- Learner will know how to interpret credit scores and determine what score lenders will use to qualify borrowers
- Students will learn how to run credit simulations to increase credit scores
- In this modern course, learner will learn all of the skills necessary to become an expert on mortgage credit reports and be able to use these skills in day-to-day working life
- From how to read a credit report to requesting a "rapid re-score" to running credit score simulations, these lectures are designed for any one who wants to approve more buyers and borrowers
- With real world examples demonstrating exactly how to execute each step of the credit score improvement process, learner will find out exactly what to do to remove delinquent credit and how to get it to report in a matter of days not months, and be compliant with all federal and state regulations
Become an Expert on Mortgage Credit Reports at UDEMY Curriculum
Introduction to Become an Expert on Mortgage Credit Reports
Who should become an expert on mortgage credit reports?
Why should you become an expert on mortgage credit reports?
What are the benefits of becoming an expert on mortgage credit reports?
Who should become a mortgage credit expert?
What does an expert on mortgage credit do?
What are mortgage credit reports?
Instructor background
Why do lenders and banks require a mortgage credit report?
Is it possible for credit bureaus to report different information?
Mortgage credit report expert tasks and borrowers expectations
Teaching your borrowers to manage their credit proactively
What are the main benefits of this course?
What are the main benefits of this course? The break down.
HOW CREDIT REPORTING WORKS
The general process of how credit is reported
What is the fair credit reporting act?
How credit scores are determined
How credit reporting agencies determine credit scores
How are amounts owed determined?
How is the length of credit history determined?
How is new credit determined?
How are types of credit determined?
What is a good or bad credit score?
What are the scoring models?
What is a Vantagescore and other factors that affect credit scores?
What are soft credit inquiries?
What are hard inquiries?
How long do credit inquiries last?
Free annual credit report
Free annual credit report overview of website
UNDERSTANDING A TRI-MERGED MORTGAGE CREDIT REPORT
What are the components of a mortgage credit report?
1. Borrower's credit scores
2. Potential score increases
3. Date of credit report, reference number, and company that pulled credit
4. Borrower's information
5. Scoring models for each credit bureau
6. Current tradelines
7. Derogatory accounts
8. Collections and charge offs
9. Other credit history and public records
10. Alerts and remarks
A Quick Interruption
11. Trade and derogatory summary
12. Source of information
13. Credit inquiries
14. Creditors and their contact information
15. Miscellaneous information
16. Disclaimer
Understanding a mortgage credit report
IMPROVING BORROWERS CREDIT AND CREDIT SCORES
What credit score ranges will result in a change in interest rates?
What things can be improved on a credit report to see a short term increase?
What things can be improved on a credit report to see a long term increase?
What tools do most mortgage companies and lenders have to help borrowers?
Can scores go up without any credit improvements?
COMMON PROBLEMS AND SOLUTION TO BORROWER'S CREDIT ISSUES
1. The borrower's credit is new and does not reflect credit scores
2. Only one or two credit scores appear on the mortgage credit report
3. Borrower has derogatory credit that has expired but not been removed yet
4. The co-borrower doesn't have a good enough middle credit score to qualify
5. A bankruptcy chapter 7 or 13 appear on the borrower's credit report
6. A foreclosure appears on the borrower's credit report
7. A short sale appears on the borrower's credit report
8. A recent late mortgage payment shows on the borrower's tri-merged credit
9. The borrower's middle credit score is short 2 points to qualify
10. How can a collection be removed from a mortgage credit report
11. The borrower paid off a debt but it does not reflect on their scores
12. Too many inquiries have dropped the borrower's credit scores to qualify
13. The borrower's total debt is too high and is hurting their scores
14. No credit scores or tradelines appear on the borrower's mortgage credit
RUNNING CREDIT SIMULATIONS
What are credit score simulations?
How credit score simulations work
The most common ways to increase borrower's credit scores
How to run a credit score simulation
Can borrower's improve their credit on their own?
How can borrower's create credit fast
Credit Karma website overview
Other courses offered by UDEMY
Student Forum
Anything you would want to ask experts?