Workflow Solutions for Mortgage Lending Professionals

Outside of rules set forth by government sponsored entities like Fannie Mae, all lenders have their own unique standards, practices, and decision-making processes when it comes to offering loans. That’s why it’s helpful to customize your credit data review process with automated workflow solutions. These tools allow you to implement criteria unique to your business into the process of ordering credit data.

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How it Works

  • With the Automated Workflow Solutions Suite, reports can be automatically requested when the borrower meets pre-determined criteria set by the lender.
  • You can create unique parameters for automated action. If your criteria are not met, you’ll receive a response letting you know why the workflow was halted.
  • A common practice is to configure your settings to initially pull data from a single bureau. If your minimum credit criteria or other parameters are not met, pulling additional data can be halted—potentially leading to meaningful savings.

Reduce Risk Early in the Borrower Application Process

  • Add Identity Validation to Your Workflow: Detect data inconsistencies up front. The Automated Workflow Solutions Suite allows lenders to confirm the consumer’s identity before pulling additional credit data, helping to avoid waste. A Social Security number is just one of 11 components that the ID Cross Check (IDCC) report can review.

    ID Cross Check includes:

    • Name Verification
    • Watch Lists
    • Address Verification
    • High Risk Address
    • Social Security Verification
    • ITIN/SIN Check
    • Other Identities Linked to SSN
    • SSA Issuance
    • SSA Death Master
    • Date of Birth Verification
    • Phone Number Verification
  • Target Specific Credit Attributes: Target the attributes you care most about within the credit report and use them to alter your process workflow automatically. From bankruptcies to collection accounts, our system can spot credit attributes that may help identify appropriate loan options for the borrower.

"Early warnings [enabled by Workflow Solutions] allow Production/Sales to structure the loan differently, which will improve our borrower's experience."

— Factual Data Customer
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Factual Data

a Trusted Provider of Workflow Automation Solutions

As a trusted mortgage credit report and verifications provider, Factual Data understands mortgage professionals’ increasing need for efficiency through automation. Tell us about your unique mortgage credit review processes and we can provide suggestions for automated workflows that may contribute to impactful savings.

Call (877) 284-8322 to speak with a Factual Data representative today, or complete the form below.