Credit Its A Brand New Day

Credit – It’s a Brand New Day How to Protect Your Clients & Pay Check Post Mortgage Market Meltdown Greg Bauman PHH Home Loan

<619 – What Can It Cost You? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is a Credit Score? ,[object Object],[object Object],[object Object],[object Object]

Why It’s Important Now ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Score Talk ,[object Object],[object Object],[object Object],[object Object]

Why Are Higher Scores Good? It’s All About the Likelihood of Default

Bad Credit – What’s the Cost? ,[object Object],Home Financing: A 30-year fixed with a loan principal amount of $360,000 ,[object Object],[object Object],[object Object],[object Object],A borrower who increases his or her credit score from 620 to 720+ can potentially save $884 per month on mortgage payments, $10,608 per year , and approximately $318,329 over the life of the 30-year loan. FICO Score APR Monthly Payment Total Payments Paid Above 760 5.800% $1,760 $633,600 620-719 6.020-7.120% $1,803-$2,019 $649,080-$726,840 Below 620 8.531-9.289% $2,511-$2,739 $903,960-$983,160

Credit Score Factors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Amounts Owed Credit Cards Mortgage Loans Auto Loans HELOCs Installment Loans Length of History New Credit Soft Inquiries Hard Inquiries Types of Credit Used A Mortgage Loan An Auto Loan 2-3 Major Credit Cards

Payment History: 35% How do your borrowers pay their bills? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Amounts Owed: 30% Managing Debt ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Length of History: 15% Mix of Credit: 10% ,[object Object],[object Object],[object Object],[object Object],[object Object]

Inquiries: 10% ,[object Object],[object Object],[object Object],[object Object],[object Object]

BORROWERS NEED TO WORK ON OPTIMIZING THEIR CREDIT TODAY! ,[object Object],[object Object],[object Object]

Partnerships Are Critical! ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Buyer/Seller Action Steps ,[object Object],[object Object],[object Object],[object Object]

Next Action Steps ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Contact Us ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Credit Its A Brand New Day

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