Are you monitoring for undisclosed debt throughout your loan closing process?

Source: Equifax

Undisclosed debt is an industry issue that can disrupt mortgage closings, overload underwriting staff, and dampen the borrower’s experience. With Undisclosed Debt Monitoring (UDM) from Equifax, you can reduce mortgage fraud and risk while improving your lending process and consumer satisfaction.

UDM continuously monitors the loan files in your mortgage pipeline for new tradelines and other changes to a borrower’s credit. With this valuable tool, you will receive daily alerts anytime relevant new activity is discovered. Monitored activities include new inquiries, new tradelines, balance changes, new late payments, public record bankruptcy, and more—from origination through closing.

UDM can help you:

• prevent fraud and mitigate risk.
• streamline underwriting.
• improve consumer experience.
• minimize loan fallout.

This powerful solution can be used as a standalone digital service or integrated into your technology platform.