Credit Risk

3 Ways Lenders can Protect from Undisclosed Debt with Dual Bureau Monitoring

3 Ways Lenders can Protect from Undisclosed Debt with Dual Bureau Monitoring

September 28, 2022 | Caroline Cothran

In today's quickly changing mortgage environment, Lenders deserve simplicity. 
Digital monitoring solutions like Undisclosed Debt Monitoring (UDM) help lenders determine risk levels to loans within their pipeline by identifying undisclosed debt. Undisclosed debt is any loan or liability during mortgage origination that the borrower does not disclose. 46% of consumers who closed on a mortgage loan made other inquiries during the mortgage origination process.
Dual Bureau Monitoring is a new enhancement to our existing Undisclosed Debt Monitoring solution from Equifax. Lenders can now include TransUnion (TU) as an additional bureau for incoming new inquiries or trade alerts. This allows you to: 

1. Have 2x the monitoring power.

That's right — once this dual bureau monitoring is enabled, UDM will provide alerts from Equifax and new inquiries or trade alerts from TU.

2. Further, reduce repurchase risk.

Determine your risk levels based on the alerts you subscribe to. Should any change in credit occur, both bureaus will alert you with detailed data on various activities for further investigation.

3. Simplify your processes 

Equifax and TU alerts delivered together help provide more coverage, and easier access to more data.
Ready to protect yourself from any surprises? Contact us today. Learn how Equifax Undisclosed Debt Monitoring with dual bureau monitoring can help you simplify in today's fast changing mortgage environment.

Caroline Cothran

Caroline Cothran

Product and Integrated Marketer

Caroline Cothran is a Product and Integrated Marketer for Equifax's Mortgage & Housing team. She leads the development and delivery of innovative content across a diverse product portfolio. Caroline's marketing expertise is in creative, partnership, digital and social marketing with a background in Financial Services a[...]