Undisclosed Debt Notifications

           

Increase closings with Undisclosed Debt Notifications – available through CIS with 1, 2 or all 3 bureaus!

  • Monitor borrower credit activities between time of original credit report pull and closing
  • Monitor credit activities stand-alone, no credit pull required

Stop surprises and protect your book of business with Undisclosed Debt Notifications.
Daily alerts notify you of:

new trade lines
new inquiries
secondary reissues
new collections
new late/delinquent payments
balance & payment changes

          

You control when to activate alerts based on the loan moving forward or the borrower's progress through qualification thresholds. A look-back period covers timeframe from date of original credit pull to activation date, if needed.

Undisclosed Debt Notifications fulfill directives from FNMA SEL-2010-11: "...every mortgage loan delivered to Fannie Mae must be underwritten to establish that the borrower has the willingness & ability to repay the debt...Fannie Mae expects lenders to have in place 1) processes to facilitate borrower disclosure of changes in financial circumstances through the origination process and 2) prefunding quality control processes to increase the likelihood of discovery of material undisclosed debts.

Contact CIS today to learn more about Undisclosed Debt Notifications!

 

Grow sales with these 2 tips:
1) Retain more borrowers that don't currently qualify with the all new, powerful Wayfinder

2) Increase pull-through & protect your book with Undisclosed Debt Notifications

Please visit CIS booth #425 on April 10, 2019 at the Regional Conference of MBA's, Harrah's Convention Center, Atlantic City, NJ.


Contact CIS
 for more information
800.275.7722   info@cisinfo.net