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Collateral Verification Report
As a lender, to process a mortgage loan application, you need to know the borrower’s mortgage lien information as well as any tax liens or judgments. The Collateral Verification Report instantly uncovers this data, resulting in quick underwriting decisions at reduced costs.
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How the Collateral Verification Report Works
Request a Collateral Verification Report online with a single click. Within seconds, you receive a user-friendly, credit-based report that lists all of your applicant’s open mortgages, real estate tax liens and judgments.
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Close Loans Faster
The Collateral Verification Report is returned instantly through our secure online platform – allowing you to make a prompt underwriting decision and close loans faster.
AVM and Flood Zone Status
AVM Range and Flood Zone status are included as a standard feature of the Collateral Verification Reports.
Tradelines
The Collateral Verification Report also includes tradeline features not commonly found, including: a tradeline comments section, non-auto tradelines over $30k and the tradeline type is displayed.
Reduce Closing Costs
The Collateral Verification Report is significantly less expensive than traditionally used title insurance – enabling lenders to decrease closing costs.
Borrower Retention
With the Collateral Verification Report, you can approve more loans faster and keep potential borrowers from shopping at other lenders.
May be Cancelled for Failed Loans
You have the ability to cancel Collateral Verification Reports for loans that do not close for only $7.50.
Kroll Factual Data provides powerful solutions that help our clients make qualified and confident business decisions that transfer risk, enhance safety and soundness, and increase profitability