MORTGAGE LOAN REPORT (MLR)

How Do Lenders Benefit Most from the MORTGAGE LOAN REPORT (MLR)?

Many lenders are taking advantage of the speed and cost savings available today with the SharperLending Mortgage Loan Report product for Refinances and Equity lines of credit. You too can benefit! Review the information here and on the MLR - Actual Costs Savings supplement document to see how you can increase your competitive edge while saving considerable time and money on closing costs.

MORTGAGE LOAN REPORT - Brief Description

The Mortgage Loan Report (MLR) is a credit based report used for Home Equity, Seconds, and Refinance mortgage loans. This unique SharperLending product gives the lender a view of the borrower's secured mortgage liens as well as any reported judgments and public record information. The first part of the report is generated from credit data, and the remainder of the report includes a Borrower lien affidavit form that is to be completed by the borrower either prior to or at closing. The completed MLR returns to the lender in 30 seconds, giving the lender the ability to quickly make an underwriting decision on the loan.

MORTGAGE LOAN REPORT - Product Features

Report delivered in 30 seconds for quick underwriting decision
Gap covered between report data and recordation
Protection from fraud
Life of loan and transferable
Simple claims process for reported errors or omissions resulting in lender llllloss
Claim settlement within 30 days
Available in all 50 states
Equity loans can be in any position including first
Foreclosure not required if commercially uneconomical to foreclose
Includes filed tax liens