Cardinal Financial's Loan Sales: What You Need To Know

Cardinal Financial is a mortgage lender that offers rate-and-term and cash-out refinances. The company provides a range of services, including a down payment assistance program, and claims to be the type of lender that talks to you like a human. They have also completed the issue of the first-ever mortgage-backed security containing loans decided with the help of FICO Score 10 T. However, it is unclear whether Cardinal Financial sells loans.

Cardinal Financial offers refinancing to lower monthly payments

Refinancing can be a great way to lower your monthly payments and give yourself more financial flexibility. Cardinal Financial understands that life changes, and your mortgage should be able to change with it.

With refinancing, you can secure a lower rate, reduce your monthly outgoings, and set yourself on a faster path to financial freedom. Cardinal Financial's refinance process is designed to be simple, clear, and flexible. Once you've received your quote, a loan originator will be in touch to discuss your goals and determine what options are available to you.

For example, you might be looking to make monthly savings, or perhaps you want to access some cash-in-hand for home upgrades or other investments. Whatever your goals may be, Cardinal Financial will work with you to make them a reality. Their team will guide you through the application process, ensuring that your information is verified and that you are informed at every step.

Cardinal Financial is committed to doing mortgage lending right. They provide clear and detailed budgets, protect your personal information with their custom-built secure loan platform, Octane, and ensure that every fee, step, and acronym is clarified so that you can make informed decisions throughout the process.

The company provides a secure loan platform to protect personal information

Cardinal Financial is a mortgage lender that treats every home loan process with the same care and attention. The company understands the importance of keeping your personal and financial information safe and has implemented measures to protect your data.

Cardinal Financial uses a custom-built, secure loan platform called Octane to protect your personal information. Octane ensures that your data is kept safe and that you are informed throughout the loan process. The company clarifies every fee, step, and acronym so that you understand exactly what is happening at each stage of your loan application.

Cardinal Financial does not sell or share your financial information with outside companies for promotional use. While credit reporting agencies may share your information with other companies when you apply for a home loan, Cardinal Financial will not. The company is committed to keeping your information secure and providing you with transparency and knowledge throughout the lending process.

In addition to its secure loan platform, Cardinal Financial also offers tools to help you make informed financial decisions. These include calculators that can help you set your budget and estimate how much you can afford to borrow or save. The company also provides free rate quotes and access to loan originators to help you find the best option for your needs.

Cardinal Financial Wholesale offers an end-to-end loan processing solution

Cardinal Financial is a mortgage lender that offers a range of services to its customers. They are committed to delivering the best tools and resources to help businesses grow and succeed. Cardinal Financial Wholesale, in particular, provides an end-to-end loan processing solution, which is designed to streamline workflow and enhance efficiency.

The end-to-end loan processing solution offered by Cardinal Financial Wholesale is a comprehensive service that handles all aspects of loan processing, from initial application to final decision-making. This service is tailored to meet the unique needs of each business, ensuring a seamless and efficient loan processing experience.

One of the key advantages of Cardinal Financial Wholesale's end-to-end loan processing solution is its ability to handle complex loans. The company utilizes innovative loan technology and competitive pricing to navigate intricate financial situations. With real-time visibility, they provide transparency throughout the loan process, ensuring that businesses have the information they need to make informed decisions.

Additionally, Cardinal Financial Wholesale's Non-QM product suite offers flexible solutions, streamlined processes, and tailored financing options. This suite empowers businesses to increase their loan volume and cater to a diverse range of borrower needs. As a partnered broker, businesses will also have access to exclusive training and insightful resources, enabling them to establish a strong competitive position in the market.

Cardinal Financial is known for its commitment to transparency and customer empowerment. They ensure that every fee, step, and acronym is clarified during the loan process, providing borrowers with access, insight, and knowledge for confident decision-making. The company also prioritizes the protection of personal information through its custom-built, secure loan platform, Octane.

The lender offers the Cardinal Special Purpose Credit Program to help with appraisal credits and costs

Cardinal Financial is a mortgage lender that offers a range of loan types to meet the needs of various borrowers. The company empowers its customers with access, insight, and knowledge for a lifetime of home loan confidence.

One of its notable programs is the Cardinal Special Purpose Credit Program (SPCP). This program is designed to help traditionally underserved populations access credit and is typically available in specific areas, such as majority-Black census tracts. The SPCP provides a grant of up to $6,500, along with additional lender credits, to assist with down payments, closing costs, and appraisal credits. It is worth noting that at least one borrower must be a first-time homebuyer to be eligible for this program.

The SPCP is particularly beneficial for those seeking mortgages for unique types of homes, which can often be challenging to obtain. Cardinal Financial fills this gap by offering mortgages for non-traditional properties. Their willingness to consider credit scores as low as 580 on government-backed mortgage options further enhances accessibility for borrowers.

In addition to the SPCP, Cardinal Financial has also been at the forefront of innovation in the mortgage industry. They were one of the first lenders to adopt the FICO Score 10 T for non-GSE loans, resulting in more favourable loan terms for military and active-duty borrowers. This advanced credit scoring model provides a more comprehensive understanding of borrowers' credit behaviour, enabling more precise lending decisions and expanded opportunities for a diverse range of borrowers.

With its commitment to transparency, effectiveness in addressing customer concerns, and positive reviews on platforms like Zillow, Cardinal Financial exemplifies honest advertising and responsive customer service in the mortgage lending space.

Cardinal Financial was one of the first to adopt FICO Score 10 T for non-G3SE loans

Cardinal Financial is a mortgage lender that talks to its customers like a human, empowering them with access, insight, and knowledge for a lifetime of home loan confidence. It protects personal information with Octane, its custom-built, secure loan platform.

In October 2024, Cardinal Financial was one of the first lenders to adopt FICO Score 10 T for its non-G3SE loans. FICO Score 10 T is a more predictive credit scoring model that incorporates trended data to provide lenders with a more comprehensive understanding of credit behaviour over time. This enables more accurate risk assessments while expanding opportunities for borrowers, including veterans and active-duty military personnel.

The adoption of FICO Score 10 T allowed Cardinal Financial to offer more favourable loan terms to military and active-duty borrowers. The company reported that the majority of borrowers received higher credit scores, with no observable increase in credit risk to the lender. This set a new precedent for smarter lending decisions and increased borrower inclusion.

The first-ever government-issued mortgage-backed security (MBS) pool featuring loans powered by FICO Score 10 T was formed and traded by Cardinal Financial on November 25, 2024. This MBS pool, which included VA loans, was traded to a primary dealer. The issuance of this MBS pool was a significant milestone in housing finance, underscoring Cardinal Financial's leadership in rethinking how credit risk is measured and managed.

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