Nationally, up to 70% of applicants fail to close. Credit reporting costs associated with non-viable applicants represent a significant out-of-pocket expense to most mortgage professionals. Vision by Credit Technologies gives you control over those fees by instantly identifying non-qualified applicants and slashing costs, often reducing out of pocket credit reporting costs by 30% or more. Vision also increases productivity by allowing originators to focus on applicants most likely to close.

 

 

The Vision process is transparent – Simply order credit reports per your normal procedures. Vision automatically monitors all credit requests, instantly comparing the consumer’s credit profile to your customizable minimum requirements. When applicants meet and/or exceed your requirements, a tri-merge report is provided. When an applicant fails to meet any of your minimum requirements, a Vision report and FICO score is delivered.

 

 

Vision silently monitors every credit transaction searching for non-viable applicants. Customizable selection criteria include,

 

 

 

Vision allows you to customize the bureau selection, logic and testing, providing more control over the analysis process. The use of multi-bureau decisioning lessens costs and provides more accurate viable-borrower detection by applying meet/exceed testing on up to two bureaus prior to delivering a full tri-merge credit report.