Loan Quality Initiative Solutions from Factual Data
Fannie Mae uses the Loan Quality Initiative (LQI) to ensure each loan it purchases meets strict underwriting standards. One important standard of the Loan Quality Initiative requires lenders to verify borrowers’ credit one last time before closing, to see if any changes have occurred. Using the LQI report or Loan Quality Cross Check (LQCC) report from Factual Data can help reduce the risk of approving loans that do not conform to Fannie Mae’s requirements.
Loan Quality Cross Check (LQCC) Reports
Compare New and Old Credit Data
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Highlight Differences Between Current and Past Reports: Receive a comprehensive report that calls attention to the differences between an initial credit report and what is currently reported.
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In-Depth Information: Receive data including credit summary changes, changed tradelines, changed scores (optional), new tradelines, new public records, and new inquiries.
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Flexible Options: Request one, two or all three credit bureaus to be included in the LQCC report. For an added cost, reports can be upgraded to add repositories after the initial report has been generated.
Loan Quality Initiative (LQI) Reports
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Use Fannie Mae’s Guidelines: The LQI report offered by Factual Data can help you meet Fannie Mae® underwriting requirements with confidence.
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Uncover New or Undisclosed Debt: Use the LQI credit report to expose borrower debt so that you may disclose it in the final loan application.
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Available with or without FICO® Scores: The LQI report can be delivered with or without FICO scores included.
"They are a one-stop-shop for us in our credit side..."
— Factual Data Customer
A Trusted Provider of Credit Reports for the Loan Quality Initiative
For decades, credit reports from Factual Data have been relied upon by the mortgage lending community for their accuracy, clarity, and the ease of access through POS, LOS and online ordering platforms. Now, take advantage of our solutions designed to help you meet the requirements of Fannie Mae’s Loan Quality Initiative.
Call (877) 284-8322 to speak with a Factual Data representative today, or complete the form below.
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