INSTANTLY SORT TRADELINES BY ACCOUNT TYPE
Over the past several years credit reports have grown increasingly complex in terms of underwriting challenges. Funding Suite’s Intelligent Credit Report permits processors and underwriters easy access to the data within the credit report that reveals insights into qualifying potential and tradeline verifications that may be required.
The Intelligent Credit Report scans every file – then dynamically presents the tools needed to better understand the file. For example, Funding Suite reviews the file and instantly identifies the type of accounts it contains. The credit types are then dynamically presented in a filter so that you can quickly see what types of accounts the file contains – with the ability to filter your view by any available credit type. You can instantly filter the credit file to show mortgages, auto loans, collections, public records, delinquent accounts and more. In the end, the Intelligent Credit Report simplifies what is typically a manually intensive and time consuming process.
AUTOMATICALLY PREFORMS A “CRITICAL COMMENT” SCAN ON EVERY FILE
Funding Suite automatically scans every tradeline down to the bureau level to identify any comments that may indicate problems with the file – and reveals the results instantly. Funding Suite scans for the following critical comments:
- Foreclosure, or Foreclosure Started
- Short Sale
- Consumer Dispute
Typically these comments are very difficult to discover because they can be buried out of sight in data never presented on a paper credit report. Often, the comments are discovered when trying to reissue the file through Fannie Mae, creating operational problems and slower loan processing times.
Funding Suite Intelligent Credit Report alerts you the moment you review the credit file and even presents the specific tradelines associated with any of these four comment types. From here, online tools can be used to remove the comments in just a few days so that you can gain approval through Fannie DO/DU.
FILTER BY BORROWER OR CREDIT BUREAU
It is often helpful to see a tri-merge credit report from the perspective of a single bureau. Funding Suite makes it possible to instantly see exactly how each bureau reported on every applicant. You can create these new views instantly, as often as you need without any additional cost.
SEARCH FOR CREDITORS BY NAME
If you have a question regarding a specific creditor, Funding Suite gives you the ability to start typing the creditor’s name and the tradelines automatically filter as you type.
SEE HOW EACH BUREAU REPORTS ON ANY MERGED TRADELINE
For two borrowers, a single merged tradeline is created from up to six different tradelines: three bureaus each reporting on two different borrowers. Funding Suite provides one click access to the actual “raw data” before it was merged for every single tradeline. If you have an issue with a bureau level comment, it is very important to see which bureau is reporting the comment so that you can deal with it correctly. Funding Suite gives you the tools to analyze credit effectively – all at no cost.