Undisclosed Debt Monitoring

Mortgage lenders need more transparency into the credit activity of borrowers during the underwriting process in order to better mitigate risk and improve underwriting efficiency – and supplemental "static" reports are not the answer. That’s why we’ve developed Undisclosed Debt Monitoring™ – a proprietary platform that monitors the quiet period between the time of the original credit file pull and the closing of the loan. Our platform is "always on" – which means we continuously monitor borrower files and provide daily alerts to lenders, mortgage insurers and investors of activity that may represent potential risk associated with mortgage loans in their pipelines. With this information, you’re better prepared to promptly communicate with borrowers regarding specific activities during the underwriting process.

The value to your business

  • Enhance risk mitigation with more visibility into borrower activity that may suggest misrepresentation or undisclosed debt activity... a current “blind spot” for many mortgage stakeholders
  • Streamline your underwriting and quality control (QC) efforts
    • Receive timely alerts to borrower activity
    • Better prioritize manual underwriting reviews by focusing your valuable resources on those applicants and transactions that represent the highest level of risk for repurchase
  • Improve the confidence level of investors, mortgage insurers and regulators in your mortgage underwriting practices
  • Immediately improve the quality of your new mortgage loan vintages
    • Reduce the significant costs of repurchasing “broken loans” – which costs an average of $30,000 per loan
    • Reduce your long-term exposure to repurchase loans that become delinquent or default – which costs an average of $80,000 per loan
    • Easily access all solutions via our online Equifax eMortgage platform

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