How much money are you wasting each month in credit report costs for applicants that don't close?
≈Vision™ by Credit Technologies
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.
How does Vision work?
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.
Automated Early Loan Fallout Detection
Vision silently monitors every credit transaction searching for non-viable applicants. Customizable selection criteria include,
- Minimum FICO® score
- Cumulative collections
- Bankruptcy within the last 23 months
- Delinquent child support
- Unpaid Federal tax liens
- Defaulted student loans
Enhanced Results through Multiple Bureau Logic
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.