A solution that's "always on"
With concerns over loan repurchases still overshadowing the mortgage market, the industry is adopting innovative solutions to prevent the origination of stated liability loans and make losses associated with undisclosed debt a thing of the past. By developing Undisclosed Debt MonitoringTM, Equifax offers a simple, yet unique way to help lower loss severity rates, reduce reserve requirements and restore long-term confidence in the mortgage origination process.
Undisclosed Debt Monitoring reduces your loan repurchase risk and keeps your closings on track by continuously monitoring borrower files for increased credit activity during the quiet period between the original credit file pull and loan closing.
Undisclosed Debt Monitoring in the News
Fannie Mae’s New Lender QC Requirement Fannie Mae’s new requirement will extend the time between loan approval and closing – which could increase the risk of borrowers opening more undisclosed trade lines. See pages 1147-1154.
Equifax Puts Focus on Undisclosed Debt Equifax Inc. announced today the launch of a breakthrough mortgage solution to help lenders comply...
Buybacks Plague Industry from Top to Bottom The four largest U.S. commercial banks booked $2.5 billion in charges...