Get Access to Refreshed
Supplemental Credit Data
Factual Data® clients can now receive direct access to applicants’ latest supplemental credit data from Innovis®. As a supplementary credit data provider, Innovis offers lenders the ability to refresh the credit report multiple times with NO impact to the FICO® score. At any point during the lending process, gain access to up-to-date information to help identify changes in the borrower’s credit profile.
Continual access to up-to-date credit data is key to identifying changes
in a borrower's credit profile throughout the lending lifecycle
Offering credit data from Innovis started in the spring of 2020 as our way of supporting the lending industry through the many changes and hardships caused by the COVID-19 pandemic. What started with a singular purpose of identifying loans that have gone into forbearance has grown into a multi-purpose tool used by lenders throughout the entire lending lifecycle.
Initially Designed to Offer Security in an Unstable Market
To help our customers identify loans in forbearance as a result of the COVID-19 pandemic, we gave them access to Innovis credit report data with the ability to instantly and continuously update critical tradeline information.
Evolved Into a Multifunctional Tool
for Lenders
Many customers began using the Innovis data for a variety of purposes other than checking for forbearance, giving them greater insights in their operations throughout the lending lifecycle.
Uncover Critical Information at Any Point During the Lending Lifecycle
Get refreshed credit data at your fingertips with Innovis credit data from Factual Data. The use cases are broad:
Check the status of recommended consumer actions- Discover and monitor updated debts and balances
- Simply refresh credit data instead of waiting for credit supplements
- Determine how many months of payment a borrower has left
- Verify any new liabilities prior to closing
- Identify comment codes for: forbearance, deferment, natural disasters
See What Our Customers Are Saying
"Our underwriting and processing teams have been using Innovis credit data from Factual Data on a daily basis for our entire pipeline. In these unprecedented times, our relationship with Factual Data allows us to monitor for loans that have gone into forbearance, loans that have been modified, new credit lines and more.
We can truly say access to Innovis data and information plays an important role when it comes to delivering on our vision for our customers."
We can truly say access to Innovis data and information plays an important role when it comes to delivering on our vision for our customers."
- Joe W., Director, Business Change Management
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