Mortgage Information Services

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Credit Infile
  • Merged or single repository infiles are available within 15 to 30 seconds when ordered electronically.
  • All infiles include the latest CREDIT score model for the best possible score accuracy.
  • Infiles are available with a large range of format options.

Example

48 Hour Credit Rescore
Rapid 48 hour Credit Score recalculation is an agreement between CISCO and the 3 national repositories. CISCO is able to submit the proper paperwork directly to the national bureaus and in 48 hours we are able to update the borrower’s credit report and change their Credit score(s).

We do not guarantee a Credit score change because of the many possible factors involved. However, we have experienced score changes of 30 to 40 and in some cases greater than 75 points.  Learn More

Undisclosed Debt Notification
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

UDN Example

Lien and Judgement Report
FCRA Approved LexisNexis RiskView Lien and Judgement Report
The national credit bureaus’ have stopped providing a significant number of public records data pertaining to civil judgments and tax liens. LexisNexis Risk Solutions has observed that borrowers who have a judgment or tax lien are 5 ½ times more likely to end up in pre-foreclosure or foreclosure, as compared to borrowers who don’t have judgments and tax liens, making this information vital for lenders.
 
LexisNexis® is the industry leader in public record information utilizing superior linking technology that yielded a near perfect (99.75%) matching accuracy rate for liens & judgments in rigorous testing.  
CISCO clients can use the RiskViewTM report as an automatic addendum with every credit report or request the report individually on specific applicants. Click for Sample
Verification of Employment / Income
Verify Income and Employment with Speed and Certainty

A verification of income is necessary in order to help understand an applicant’s ability to pay. With consumer consent, an income verification from Equifax:

  • Leverages The Work Number® database of income and employment records from over 5,500 employers nationwide, including over 75% of the Fortune 500 and the majority of federal government civilian employers
  • Contains both basic employment information and detailed employer compensation data, including wages, bonuses, commissions, overtime and, if available, salary history and pay increase details
  • Includes payroll data that comes direct from employers and is updated every payroll cycle
  • Provides you with actionable data that is delivered within seconds

For those applicants whose information is not available instantly, a researched verifiction can be immediately initiated, whereby a team of verification specialists will manually complete the verification on your behalf. With hundreds of thousands of employers in our researched verifications database, our team can quickly connect with the right resources and perform fast and fully documented income verifications, generally in as little as one to three business days—a complete solution for all your verification needs.

VOE Example

Verification of Deposit / Asset Verification
CISCO Credit delivers Automated Asset Verification to completely replace the need to collect banking & brokerage statements Securely automate financial verification for all applicants. Automated Asset Verification stops fraud, eliminates manual processing, delivers account monitoring & account history options, and is accepted by Fannie Mae, Freddie Mac and nearly all investors, nationwide.

CISCO Credit is supporting Fannie Mae’s Day One Certainty™ by offering Verification of Deposits and Assets with AccountChek™ and The Work Number Verification services for verification of employment and income services.

An average of 5 hours is spent, per loan, on asset document collection, review and verification and the same document is collected and reviewed multiple times during the loan process. This manual verification is slow, costly & riddled with hidden fraud! Direct source validation stops fraud & saves time.

CISCO has partnered with AccountChek™ delivering a secure, online, real-time, compliant process that is patented and accepted by government sponsored enterprises, lenders and investors to validate deposits and assets. AccountChek™ is used by multiple industries, including mortgage, credit card, automobile, rental, real estate and other businesses, to eliminate the hassle required to obtain complete copies of bank statements and third-party validate the information.

A simple 3-step process verifies data in minutes:

  • Login & Authorize – the borrower receives a notification with their AccountChek™ login.
  • Connect & Verify – borrower connects their financial institutions & authorizes accounts.
  • Submit – Requestor is sent deposit/asset report.

The AccountChek™ platform is integrated with CISCO Credit. Verify deposits and assets from the same platform used for credit reports and other services. A complete statement and 1006 form are delivered for each account requested. Verify up to 10 accounts on a single request.

Impact Free Inquiry
Impact free credit report gives you the ability to pull Experian and Transunion credit reports without an inquiry impact. The report will provide a FICO score. No impact inquiry, results in no impact to the credit score.

Once qualified, a hard pull can be made and used for underwriting. This process may reduce the number of hard pulls and maintain the borrower’s score.

FACT Act Mail Service
This service lets us take care of mailing the Risk Based Score Disclosure. One less thing for you to worry about.
ScoreNavigator Credit Simulator

Take advantage of our ScoreNavigator credit simulators; this will allow you to input different scenarios and find out what the projected result would be.

 

  • Change balances.
  • Add accounts to see the effect on the score.
  • Close open accounts.
  • Change status of accounts (collection to paid, etc.).
  • Estimated new score and score gain after action taken.
  • No Inquiry.

ScoreNavigator Manual/SmartScore Simulator Example

ScoreNavigator Money and Target Simulator Example

 

Preview by ScoreNavigator

ScoreNavigator’s Preview automatically scans credit files to provide your customers with opportunities to raise credit scores. Preview inspects every credit file ordered through CISCO’s platform for potential score increases so that your customers don’t have to do it manually.

Preview Example 1

Preview Example 2

TrendScape™
TrendScape™ is a way for your customer to quickly understand the story of the applicant’s credit including the new trended data. It also forecasts each applicants’ score, example: “their mid-score is currently 672, but are likely to be in the 680-700 range within “x” months”.

  • TrendScape™ automatically analyzes your credit reports-all you have to do is look at the first page to see how applicants are trending.
  • TrendScape™ finds trends and alerts you to important behaviors. It even uses the trend data to forecast key credit score changes.
  • TrendScape™ comes with every credit report, wherever you order them. Use an LOS? No problem. TrendScape is delivered as the first page of your PDF credit report.

TrendScape™ Sample

SSA-89 Social Security Verification
Automated Form SSA-89 Processing in a few hours. SSV Verifies whether a name and Social Security Number (SSN) combination match the data in SSA’s records. SSV is the result from processing the signed consent Form SSA-89. The Form SSA-89 is currently the only way to verify a Social Security 100% directly from the SSA.

 

Click here for a sample

Requirements:  Attestation Form  |  SSA-89 Form

Enhanced W-2 Retrieval
W-2 Retrieval Product – Get your borrowers W-2’s in 2-7 days.
Tax Return Verification
The 4506-T allows you to verify a borrowers income with U.S. tax records. Deliverable through our secure online system in 1-2 business days direct from the IRS.

 

Setup Form  |  Click here for a Sample

Business Credit Reports
The Experian Business Profile report presents a current, objective picture of how a business handles its financial obligations. The Profile report provides actual trade payment experiences, public record information, company background, and comparative data, placing a company’s payment performance in context with its industry.

 

The information is reliable, accurate and unbiased, allowing for an objective view of a company’s overall financial health.   Click here for an example

Social Search
Social Search delivers up to date name, address, and date issued information. This will confirm applicant information and detect potential fraudulent activity associated with a Social Security number.

 

Also receive verification on maiden names, alias, misspellings, and consumers who have changed their identity.   Example

AVM
Automated Valuation Model   Through CISCO basically estimate the value of the property over the web in seconds. The estimation is based on the house size and features compared to the neighboring houses and their recent sold-price if any.   Example
Loan Quality Initiative Services
(LQI) Services we offer:

 

 

  • Refreshing Credit Report – A credit report acquired just prior to closing to help you proactively uncover additional debt or credit inquiries.
  • Comparison Report – allowing you to compare two reports in less than 10 seconds! You can easily comply with the new Fannie Mae Loan Quality Initiative standards.
  • Verification of New Inquiries – A process to determine new account information.
  • Soft Code Inquiry – This is available for pre-funding and post-funding review.
  • Inquiry/Derogatory Letter – A pre-filled form letter available for the borrower to address any inquiries and any derogatory information on the original credit report or the refreshing report.
  • Tax Return Verification – Used to verify the validity of a borrower’s income by referencing tax returns filed with the IRS.
  • Social Security Verification – Used to verify against the Social Security Administration’s Master File of Social Security Numbers (SSNs), using Social Security number, name, date of birth and gender code (if available).
  • Red Flag (Fraud Alerts) – Instantly recognize the warning signs of potential fraud with our Fraud Services.
VODA
Automating the Financial Verification Process. Automates the verification of a borrower’s deposits and assets in the loan process by providing instant digital statements from more than 15,000 financial institutions. Delivers VODA reports in minutes through a our system eliminating the need for borrowers to submit paper copies of bank statements and investment statements.

 

Process improves the customer experience while reducing loan file errors and eliminating the risk of falsified bank statements.

Other Services
  • Fraud check
  • Public record search
  • 60 second Canadian credit
  • International credit
  • Flood Certification