The Mortgage Lending Lifecycle
Factual Data is a leading provider of merged credit reports and data verification services to the mortgage lending industry. Learn more about how our products fit into the mortgage lending lifecycle.
Stage 01
Engage and invite consumers into your pipeline without exposing them to trigger products, while you assess product offerings with a soft inquiry credit report.
Know up-front if a consumer meets credit thresholds and if the application process should be continued before investing time and expenses downstream in the application process.
This timesaving step is a great way to protect the efficiencies of your loan manufacturing workflows and meet the demands of today’s borrowers.
Protect your pipeline and get the most out of your lead investments by qualifying potential borrowers before they apply for a loan with a 1, 2, or 3 bureau soft inquiry credit report.
Pre-qualify in seconds
Improve the borrower experience
Protect lead generation and marketing investments
Stage 02
Merged credit reports provide a real-time representation of a borrower’s credit history in an easy-to-read format. Order from our secure site or from a wide range of integrated loan origination (LOS) or point of sale (POS) platforms.
Proprietary Credit Reporting Platform – In addition to having a direct connection to Fannie Mae® and Freddie Mac®, Factual Data owns and operates our technology platform, enabling us to be nimble and responsive.
Automate Workflows by implementing your business rules and introduce automation into the consumer application workflow.
Trended credit data from TransUnion®, Experian® and Equifax® allows a clear view of borrower payment habits for up to 24 months, giving a more in-depth picture of an applicant’s history
Convenient summaries for efficient reviews with an easy-to-read overview detailing FICO® scores, debt summary, late payment history, and fraud alerts
Credit Supplements can be ordered directly from the Factual Data mortgage credit report in many loan origination systems (LOS) or from our secure, web-based platform.
Factual Data offers Rescore solutions to help lenders close loans fast. Simple yet effective solutions to improve a borrower’s credit score can be achieved by making recommended adjustments.
Prompt Adjustments: Rescores can be processed in as little as three days.
Stage 03
Avoid the surprise of hidden liabilities, public records or other credit changes with our undisclosed debt monitoring solution powered by the DRIVE® platform, from Factual Data affiliate, DataVerify®. Available with 1, 2, or all 3 bureaus, our customizable monitoring option will alert you of any changes in a borrower’s credit history for a period of up to 120 days.
The single-source, proprietary DRIVE platform enables you to complete a comprehensive application analysis with a full suite of verification services.
Assess the severity of risk and likelihood of identity misrepresentation with IDVerify®.
Identify potential misrepresentation of occupancy, employment, and income with AppVerify®.
PropertyVerify® evaluates risk associated with the collateral and surrounding market.
Select the service that is right for your specific situation from our comprehensive offering. Verify the need for insurance on residential and commercial properties nationwide with flood zone determinations from DataVerify Flood Services®, an NFA certified provider.
Stage 04
Discover the DRIVE platform from Factual Data affiliate, DataVerify. This single-source, proprietary application can be tailored to your specific risk conditions.
Efficiently determine property valuation and risk with our wide range of automated valuation models (AVMs).
Stage 05
Be informed of new credit activity and tradelines before closing with our undisclosed debt monitoring solution. Receive alerts to key factor changes on your borrower’s credit report during the time between origination and loan closing.
Help prevent mortgage fraud and focus on loan quality with LQCC from Factual Data. This soft inquiry credit report helps lenders identify changes in a borrower’s credit file since the initial credit report.
Stage 06
Overcome the challenges of identifying portfolio risk and important opportunities using Portfolio Servicing solutions from Factual Data.
With our post-close Quality Control services, Factual Data helps you verify and double-check the information used during the underwriting process. Whether it’s 10% of your loan production or your entire portfolio, a thorough review will help reduce risk to your business.
Tell us about your process and a Factual Data representative will map our products to your lifecycle.