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UDN – Product Highlight-Undisclosed Debt Notification

Aug 2, 2016

Monitor a borrower’s credit profile throughout the closing process!

Find potential issues or delays prior to closing; facilitates compliance, prevents buy back-loan repurchase, assists in improving the buyer (consumer) experience and helps to safeguard against last minute credit surprises.

Benefits

  • Monitor a borrower’s credit profile for up to 120 days
  • Ability to look back between 30-60 days
  • Help ensure a surprise free and smooth closing process
  • Deal with any credit issues earlier in the closing process

Highlights

  • Get notified of any changes on a daily basis on new inquiries, new trade lines, new public records and new collections
  • Get notifications from 1 , 2 or all 3 bureaus
  • Detailed credit report information is appended on each alert such as balances, credit limit and open date
  • Compliments the Refresh Report that is recommended to be pulled prior to closing

Available Notifications

  • Public Record Bankruptcy
  • Tradeline Bankruptcy
  • Liens/Judgments
  • Major Derogatory
  • 30/60/90 Day Past Due
  • Balance Increase Changes
  • Increase in Scheduled Payment
  • High Revolving Utilization/Over Credit Limit
  • New Trades
  • New Credit Inquiries

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