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By David Keene
Conference showed that the values Reagan cherished still endure
Topic - Glenn Harshman
Though no one expects to be turned down for a home loan, the Mortgage Bankers Association (MBA) said 2.32 million Americans seeking a mortgage were rejected in 2010. The MBA estimated that the number of rejections would be higher if it included applicants who dropped out of the application process in anticipation of a rejection.
Glenn Harshman, vice president of 1st Portfolio Lending in Vienna, said a lender can help applicants work through their issues and offer specific steps to improve their ability to refinance or buy a home.
"If the issue is their credit score, we can use a credit analyzer to look at different scenarios that could improve their score by as much as 50 points in a short time," Mr. Harshman said. "For instance, if someone cannot pay off all their debts before applying for a loan, we can tell them to pay off a certain bill and estimate what that will do to their credit score. This is especially important for someone who is only a few points away from qualifying for a loan."