Have you ever applied for a mortgage loan and been bombarded with calls, texts, emails, and letters from random lenders? You are not alone! This process happens because your data was sold as a trigger lead.

One of the most common questions I hear as a mortgage lender is: “Can I get a mortgage without a FICO score?” The short answer is yes, it’s possible. But like most things in lending, there’s more to the story.

On February 22, the Department of Housing and Urban Development (HUD) announced a 30 basis point reduction (.3% of the loan balance) to the annual mortgage insurance premiums (MIP) charged to homeowners with a mortgage insured by the Federal Housing Administration (FHA).