Month: March 2008

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Month: March 2008

Paper Credit Reports Are Not Enough

by William DiPaolo

I’ve got a headache. Literally. In a mortgage market that is arguably one of the most difficult we’ve seen in decades, you’d think today’s mortgage originators would use every available resource to increase their applicant’s qualifying ability. Too often however, they do nothing but order a credit file, glance at the scores and decline the […]

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Big Companies Can Make Lousy Partners

by William DiPaolo

I happen to work in the mortgage industry, a space dominated by large, buttoned up, bureaucratic competitors. And over the past five years I’ve realized that most of these large companies have a tough time getting out of their own way. The idea that the large company’s suffer from their own inertia began to bubble […]

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Credit Errors Wrongly Lower FICO Scores

by William DiPaolo

Last week, during some quick research for an article I was writing, I came across a 2004 article posted on CNNMoney.com which stated 25% of credit files contain errors serious enough to decline a loan application.  My last blog revealed that “credit use” errors can harm a consumer’s loan chances. I define, “credit use” errors […]

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