Swift and Thorough Streamlined Solutions
Cost-efficient? Yes – our software works seamlessly with your software.
We make the process of pulling a credit report* easy so you can get back to your applicants quickly.
- Effortlessly blends with most Loan Origination Systems, Point of Sale Applications, Fannie Mae, and Freddie Mac.
- Efficiently modernized through a secure, web-based platform hosted by SharperLending LLC.
- Access to one, two or all three major credit bureaus: Equifax, Experian, and TransUnion.
- Simplified, easy-to-read format.
*Credit Information Systems provides credit reports to clients who have met repository end user requirements and have a permissible purpose under the Fair Credit Reporting Act (FCRA).Please click here to download a Credit Reports PDF. Credit Reports
A cost-effective way to test the waters – for you and your customers.
How it works:
- It gives lenders an advantage, allowing lenders access to a soft pull for pre-qualification of an applicant.
- A one, two or three bureau pull of a credit report with a score making it less expensive than traditional mortgage credit reports.
- Lenders get the credit and scoring information they need to pre-qualify an applicant without affecting the applicant’s credit score.
- Standard application disclosures do not apply since this is not an application for a loan.
For a lender who wants to forgo the expense of a tri-merge credit report before knowing what the potential borrower’s credit looks like AND for potential applicants who aren’t sure if they will qualify for a mortgage loan, our Pre-Qualification / Soft Pulls are another tool to make your job easier.
Click here to download a Pre-Qual / Soft Pull PDF. Pre-Qual
Reducing risk is key to any loan process and a third-party Public Record Search is an ideal way to access judgment and tax lien information that is no longer included on Credit Reports alone.
- Credit Reports no longer include judgments and tax liens so your risk is elevated without this data.
- Without a Public Record Search lenders could miss a judgment or tax lien that has been filed against an applicant.
- Data from a Public Record Search – bankruptcy filings, tax liens, judgments – help to ensure quality loans and minimize buy backs.
Still not convinced? Consider this – A recent review of 50,000 Credit Reports that were supplemented with a Public Record Search showed:
- 7% had at least one OPEN judgment and/or tax lien.
- 14% had at least one open OR closed judgment and/or tax lien.
- 3% that had an at least one OPEN judgment or tax lien had a score of 640 or higher.
Click here to download a Public Record Search PDF. Public Record Search
CLOSE MORE LOANS when you use Credit Information System’s secure online platform to access CreditXpert's various products – analyze the applicant’s credit and identify opportunities to improve their scores.
CreditXpert’s predictive analytics engine analyzes millions of initial credit scores each year and generates action plans for mortgage lenders and potential applicants at the time credit is pulled, or even with a prequal/soft pull. By following this detailed and highly accurate action plan, the potential loan applicants can address and focus on actions most likely to help them realize their credit score potential. You can even use these tools when prequalifying an applicant, too!
CreditXpert® Credit Assure™
With this easy-to-read summary on the front of the credit report, you'll immediately see if your applicants may qualify for better rates and terms. Use Credit Assure as a quick guide to help applicants maximize their credit score.
- Automatically scans credit files to simulate an increase in credit scores based upon the applicant’s credit data.
- Identifies possible score-increase opportunities, i.e., pay down balances, open new accounts, and possible deletion of authorized user or invalid collection accounts, etc.
- Offers a quick view cover page on the Credit Report and automatically presents findings on most files.
You don't need to be an Xpert on all things credit to show applicants you're positioning them to get the best rates and terms, while you're closing more loans. Use the CreditXpert tool, Wayfinder, to provide applicants with a custom plan of action to achieve their target scores, often helping them to improve their credit scores by an average of 27 points.
- It’s easy to use.
- Closes more loans by helping applicants get their best credit score.
- Just tell Wayfinder how many FICO points are needed and/or how much money the applicant has available. Then, Wayfinder tests thousands of scenarios, returning a report if the point goal is or is not obtainable. If it is obtainable, the reporting includes details of how to reach the goal, which could include requesting our rescore services.
CreditXpert® What-If Simulator™
CreditXpert's 20 years of analyzing more than 750M FICO credit scores and records makes it easy for lenders to run endless scenarios and produce detailed plans for improving their applicant's score. The What-If Simulator is used to predict results, develop these plans, and make informed decisions for your applicant.
- CreditXpert’s What-if-Simulator tool allows the lender to simulate changes to the credit report data and/or project how time would impact these changes so the applicant may achieve the desired score.
- Once the applicant has taken the recommended actions to improve their FICO credit score, our rescore services may help expedite the loan process.
When an applicant’s Credit Score puts their dream home just out of reach, CreditXpert provides solutions to help you make their dream come true. In fact, 908,000 applicants were helped by CreditXpert in 2021, up 56% since 2019.
Contact us today to learn more about how CreditXpert can help you help your applicants and CLOSE MORE LOANS. We can even schedule a demo for you and your team!
Click here to download a CreditXpert PDF. CreditXpert
It’s all about risk reduction and we have the solutions to help.
Each of the repositories (Equifax, Experian, and TransUnion) offer a wide variety of fraud products to help detect and mitigate fraud during the account lifecycle.
For more information, please call us today. We can evaluate your needs and determine what fraud products provide you with the best solutions.
Click here to download a Fraud Detection PDF. Fraud Detection
When it comes to active military members, accuracy counts.
- Military Lending Act compliance requires verification of member’s military status and protects active-duty military members, spouses and dependents in regards to certain lending practices.
- The applicant’s name is scrubbed against military databases to determine if the applicant is an active military member.
- This applies to banks and credit unions.
Click here to download a MLA PDF. MLA
We can help you meet the legal obligations under the Fair Credit Reporting Act (FCRA) and the Risk-Based Pricing Rule.
- For companies that use applicant’s credit reports to make credit decisions, we provide the appropriate notice as an attachment to the credit report at no cost.
- For a fee, we can provide to the applicant a copy of the Risk-Based Pricing notice, along with proper tracking for audit purposes.
We help you manage the process and ensure all legal obligations are met. If requested, these disclosures can be automatically sent to the applicant/customer on your behalf.
Click here to download a Risk-Based Pricing Disclosures PDF. Risk-Based Pricing Disclosures
The right prospects at the right time – timing is everything with pre-approved offers.
- Maximize profitability and your marketing dollars by sending preapproved offers to prospects who meet your credit risk tolerance. That translates into potential customers with the greatest propensity to buy.
- These lists of prospects are based upon a client's criteria for marketing efforts and must include a firm offer of credit.
- Creates a specific audience for your targeted offer, with clean, updated data that is not limited to one repository.
Click here to download a Marketing/Pre-Screening Lists PDF. Website_Marketing Pre-Screening Lists_01072022
ReadyQual is a prequalification tool to turn consumers into borrowers faster, moving applicants quickly through the process!
- Lenders qualify more borrowers across demographics with the help of soft inquiry credit reports and without the need for TRID disclosures (posts to Experian as a soft inquiry).
- As a prequalification tool, ReadyQual only requires name and address, so it moves potential applicants quickly through the process. It then feeds instantly-prequalified consumers into full loan applications. Loan Officers instantly receive a text with the applicant's information. And, LOs can also include a customized message to applicants.
- With a customized web link, this easy, online software application allows lenders to present their products and services directly to borrowers on their own website.
- And using these customized web links, Loan Officers can even promote their sales efforts further by putting the link to their ReadyQual page on local business web sites such as car dealerships, home improvement centers, realtors, and more.
Click here to download a ReadyQual PDF. Website_ReadyQual
Click here to walk through a short demo of the ReadyQual tool to learn how you can prequalify consumers.