Factual Data® is definitely an innovative technology solution that enables banking institutions to rapidly assess the credit-worthiness of potential borrowers. Marketed through Lender Products Corporation® (FIPCO), Factual Data presents a obvious, concise credit history delivered online within minutes.
Factual Data provides web-based credit rating services using three major credit rating agencies, with clients selecting one-, two- or three bureau merged reports from Experian, TransUnion and/or Equifax. The details are utilized, processed and came back within minutes to develop a complete and simple-to-read credit history for your PC. Factual Data&rsquos comprehensive report offers easy-to-understand information which ensures no time lost deciphering data. With 32 different report summary possibilities, it may be customized to suit how you process loans. FICO credit ratings, personal bankruptcy scores and fraud search products can also be found.
The report design versatility and also the sorting possibilities within various report sections allow users to simply discover the exact information they seek. These report format options could be modified to meet the requirements of every branch location, each department, or each operator/user. You may even decide to pick a standard report format for use during your organization. Because Factual Data recognizes that time is important, data verification demands are completed and came back for you in four business hrs or they&rsquore provided at no cost.
For further versatility, an economic institution can choose from two credit rating options: Bureau ExpressSM and TruSelect. Bureau Express utilizes Factual Data directly for credit rating services, while Factual Data&rsquos TruSelect supplies a complete credit history, while allowing the institution to keep their current credit rating agency relationship and repository codes. Both options provide the utmost in reliability and precision.
Using the Factual Data interface to Compliance Concierge™ software, the reporting process is even simpler. Integration of Factual Data enables Compliance Concierge users to request Factual Data credit history while finishing the borrowed funds application. The Factual Data details are sent into the Compliance Concierge system and instantly populates the right fields.
Factual Data leads the in analyzing information and delivering it on the internet using the speed, reliability, precision and personalization that buyers require. Founded in 1985, the organization offers the industry with credit products to assistance with the underwriting of first home loans, and delivers greater than 100,000 credit files each day to in excess of 25,000 customers. Among the couple of credit rating agencies nationwide whose credit history can be found with the automated underwriting systems of both Fannie Mae and Freddie Mac, Factual Data has generated a status for supplying reports which are accurate and free from duplication.
To learn more about Factual Data, contact the FIPCO Customer Support Department at 800/722-3498, or send your request via e-mail to FIPCO Sales.