What Are Non-QM Mortgage Loans?
Non-QM (Non-Qualified Mortgage) mortgages are residential loans that don’t meet the strict requirements of the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages (QM). Whereas traditional loans meet uniform standards for income verification and debt-to-income (DTI) ratios, Non-QM loans permit variability in borrowers with unorthodox financial situations. These loans are extended to individuals who may […]
How to Get an Auto Loan with Bad Credit
Getting an auto loan when your credit score isn’t perfect may seem overwhelming at a glance. Understanding the correct steps can make it more approachable. This blog details tactics to improve your chances of getting approved for a loan with a less-than-perfect credit history. Understanding Your Credit Score When considering auto loans in Bakersfield, individuals […]
AI and credit scoring: How new technology is changing the landscape
Lenders’ assessment of creditworthiness is undergoing major changes thanks to artificial intelligence (AI) and machine learning. As these innovative technologies continue to evolve, they promise to greatly impact credit scoring and make accessing loans quicker and fairer. The Traditional Method of Credit Scoring The traditional FICO score has long been the standard for determining someone’s credit […]
