HELOC, Ops Tools; STRATMOR and Servicing; The Importance of Marketing; Freddie Fannie News

Does anyone pay with cash anymore, or actually have the money in their bank account? Credit card debt is now $1.1 trillion. There is even a credit card just for automotive repairs! With those “Buy Now Pay Later” arrangements being added to the FICO reports, MLOs are asking, “What are delinquencies like? Will these add to, or subtract from, my pool of eligible borrowers? To the surprise of no veteran LO, it turns out that nearly half have experienced payment problems. Want to do a client with a high credit card balance (and paying 28 percent on it) a favor? Of course you want to put them into a cash out refi, but if that doesn’t work, for $1…