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MEMBER SERVICES
Become a Member! Click here to download Membership Application (pdf)
SERVICES FOR MORTGAGE LENDERS/BROKERS
One Source Credit Reporting, LLC is a nationwide provider
of credit information and services to mortgage lenders/brokers.
We provide the following services on all credit reports
ordered:
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Reports
can be obtained via the internet or fax. |
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Multiple
tradeline sorting selections. |
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Provides
bureau source segment identifiers. |
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Provides
creditor name, address, telephone #. |
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Bureau
addresses printed on report. |
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FICO
Scores printed on a separate page, with the 4 main
reason codes along with common language explaining
the reason codes. |
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Provides
a summary profile. |
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Optional,
Asset/debt worksheet as a separate page (for internet
users only). |
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Optional,
Ability for client to delete co-borrower (for internet
users only). |
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Optional,
Ability for client to switch borrowers (for internet
users only). |
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Optional,
Safescan fraud alert from Equifax. |
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Optional,
Fannie Mae or Freddie Mac. |
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Optional,
Flood zone determination. |
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Optional,
Rapid Rescore. |
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Optional,
CreditXpert credit analysis. |
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Interface
with 23 LOS packages, including E-pass (Genesis
and Contour), Calyx/Point. |
XPERTONLINE.NET
Anywhere. Anytime. XpertOnline.net
provides you with quick access to credit reports via
a secure SSL 128 bit encrypted connection.
Anywhere.
Anywhere there is an internet connection, you can
access credit reports.
Anytime.
Anytime day or night, 24/7, you can access credit
reports.
Anytime.
You can request your “line item updates”
and RMCRs on line. Receive an email when your file
is completed.
XpertOnline.net
allows you to work in a paperless environment.
Spending less time faxing and telephoning will give
you more time to service your borrowers and bring in
more business.
AUTOMATED UNDERWRITING
“Yours for the Asking” Through our Technical
Affiliate program we provide instant access to:
Fannie Mae
Desktop
Originator and Desktop Underwriting
Freddie Mac
Loan
Prospector
RFC AssetWise Direct
GMAC
Greenpoint
(e-Point)
Indymac
Bank (eMits)
IMPAC
(iDASLg2)
Homecomings
(pending)
Southstar
Funding (pending)
Reissue your TriMerge infile report through
EMagic
Ohio
Savings
First
Franklin
Chase
And
many more..
XPRESS MERGE
An Xpress report is the answer to your pre-qualification
needs. Xpress is an in-file credit report from 1, 2
or 3 of the credit repositories merged into an easy
to read format.
Ordered
via internet, dial-up or fax.
Ordered
on your laptop or on your in-house PC.
An
easy to read format.
RESIDENTIAL MORTGAGE CREDIT REPORT (RMCR)
A Residential Mortgage Credit Report (RMCR) is a 3-bureau
merged report prepared in full compliance with the Fair
Credit Reporting Act (FCRA) and Fannie Mae guidelines.
Tradelines
with balances brought current if date last reported
over 60 days.
Collection
accounts contacted to verify if paid or still owing.
Contact names and telephone number provided.
Bankruptcy
tradelines sorted into separate section.
Rental
history verified if landlord information is provided.
RAPID RESCORE
How often is a consumer penalized for the score on a
credit report that contains a creditor error.
You
can now have that file re-scored in 48 hrs.
With
the appropriate “letter from the creditor”
we can submit the verified documentation to the credit
bureaus and in 48 hours the credit bureaus will correct
the consumer’s credit file.
A
new XpressMerge can be accessed and a new score will
be provided.
FRAUD ALERTS
Each of the three repositories, Equifax, Experian and
TransUnion have developed a vast data base containing
millions of records specifically used to detect fraud.
The Equifax fraud alert product is SAFESCAN, the Experian
product is FACS+ and the TransUnion product is HAWK.
The fraud products were developed to alert you to known
or potentially fraudulent information. Some of the items
identified in their search:
Social
Security # been issued to a person who has been reported
deceased
Social
Security # has not issued by the Social Security Administration
Social
Security # reported as misused
Possible
True Name fraud
Inquiry
address has been reported misused
Inquiry
address associated with more than one name or Social
Security #
Inquiry
address is a state/federal prison or detention facility
Inquiry
address reported as a check cashing facility
Inquiry
address reported as a mail receiving service
If any of the fraud warnings are reported under the
Fraud Product, each bureau recommends that a thorough
investigation is conducted during the approval process.
BUSINESS REPORTS
A business report allows you the opportunity to evaluate
the financial stability of a business owner applying
for a mortgage loan.
This
information may be obtained from a national business
reporting data base, or,
We
can develop a business report using financial information
provided by the owner, plus contacting Secretary of
State and searching public information for corporation
information.
CREDIT SCORE
What
is Credit Scoring?
A credit score is a predictor of future performance,
not a judgment of past behavior. There are different
score models used by different creditors. A score
can be based solely on the information in your credit
file, while others may be based on a combination of
credit bureau data and the information you supply
on your credit application. The score is a numerical
ranking of the information gathered from your credit
file and/or the information on your credit application.
The score is used as an indicator of how likely you
are to repay your credit cards or loans on time and
according to the terms of your agreement. Many creditors
now use a credit score to determine their risk when
evaluating a credit application.
Do
Scores Discriminate?
Credit scoring models do not consider race, nationality,
religion, whether you are married, single or divorced,
your gender or other prohibited factors. The Fair
Credit Reporting Act (FCRA) and the Equal Credit Opportunity
Act (ECOA) help ensure that lenders rely on “likelihood
of repayment” as their main criteria when approving
or declining a credit application.
Why
does a computer approve or decline?
A computer generates the credit score, but a Lender
must make the ultimate decision for approval or declination.
The lenders that use the score can make a quick, unbiased
decision on which applicants are likely to pay as
agreed.
How
can I improve my score?
Since a credit score is a predictor of future performance,
a poor score will change in accordance with your future
paying habits. Past credit problems will fade as time
passes and good paying habits replace the poor paying
habits. The key to improving your score is to consistently
pay your bills on time.
What's
in a scoring model?
In determining the score, the scoring model will
look at many factors and will balance and weigh each
of these factors to arrive at the score. Some of the
factors are:
- Recent payment history
- The amount of credit you have access to and are
using
- How long is your credit history
- Inquiries to your credit file, whether you have
been shopping for credit
- Notification of collection and public record items,
such as liens, judgments, bankruptcies
FLOOD ZONE DETERMINATION / CERTIFICATION
One Source has a marketing alliance with DPSI (formerly
ACE USA Flood Services). High quality reports and quick
access.
Basic
flood determination.
Life
of Loan Service.
HMDA
Census Tract Data.
You
can obtain your flood reports via internet with no
installation.
Dial
up with easy installation.
 Uses
no third party E-Mail.
Operates
in the background on your PC.
Prints
free duplicates at your workstation.
Confirmation
reports with each order.
LOS INTERFACES
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Calyx: |
Utilizes the ActiveX
download |
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Contour: |
Utilizes EPass |
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Criterion Loan vision: |
Requires: Download Client Software
loan vision |
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Dynatek Mobile Loan Office: |
Utilizes the ActiveX download |
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Eastern: |
Requires: Download Client Software
EasyApp v6.13 and Empower for Windows |
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EDS: |
Requires: Download Client Software
EDS |
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FICS: |
Requires: Download Client Software
Loanware |
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FiServe: |
Requires: Download Client Software
EasyLender v2.0002 |
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Genesis: |
Utilizes EPass |
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Interlinq Mortgage News: |
Requires: Download Client Software
v6.xto8.x |
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Loanmor: |
Requires: Download Client Software
Loanmor |
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Loan Officer Plus by Tutle: |
Requires: Download Client Software
v4.2 |
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MISMO: |
Download Client Software |
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Mortgage Flex: |
Requires: Download Client Software
Point of Sale |
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Pipeline: |
Requires: Download Client Software
LoanProcessor v5.0 |
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RAM: |
Requires: Download Client Software
v5.45 for DOS; v1.09 for Windows; v1.5 for Windows |
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Sound: |
Requires: Download Client Software
Sound |
IRS 4506-T TAX RETURN VERIFICATION SERVICE
40% of the mortgage applications associated with mortgage
fraud involve fraudulent tax returns. Verification
of tax returns reduces the risk of mortgage fraud.
With One Source secure connection with the IRS for
Online Tax Return Verification Service you receive:
Easy
online ordering of tax transcript - up to 4 yrs
Internal
messaging system for easy contact and tracking purposes
Online
access to results for up to 6 mos
In
most cases, your results will be returned within
24-48 hrs
STREAMLINE "MORTGAGE ONLY"
A credit report that will consist of a borrower’s
mortgage only.
MANAGEMENT REPORTS
The office Administrator/Supervisor, can monitor reports
ordered by each loan officer, daily, weekly, monthly.
OFAC
Office of Foreign Assets Control, name matching service.
OFAC is designed to help financial organizations comply
with U. S. Treasury Department requirements to block
potential criminal access to their lending and credit-granting
resources.
FRAUD GUARD
If you have the need to send your credit file to multiple
lenders, you can allow your lender to access an original
copy from the Xpertonline.net web site. Within a minute
your lender will have a clear copy, not a hard-to-read
faxed copy.
PULSE
An awesome tool that converts bureau data into real
information, brings out key data, then presents in
an interactive, easy to use product for instant accurate
decisions.
MORTGAGE FRAUD REPORT
Mortgage Fraud Report: detect and investigate misrepresentations
- which include:
ID
Investigation Report
Employer
ID Report
MERS
Lien Report
Subject
Property Report
Loan
Participant Report, all loan participants checked
against exclusion list
SSN VALIDATION
SSN Validation is another valuable tool to help you
identify potential fraud. With One Source secure connection
direct with the Social Security Administration for
Online SSN validation you receive:
Easy
online ordering of SSN validation
Results
showing "Match", "No Match", "Notice if SSN has been
reported "Deceased"
Internal
messaging system for easy contact and tracking purposes
In
most cases, your results will be returned within
30 minutes
CONSUMER CREDIT CARD PAYMENT
Are you paying for credit reports with little or no
guarantee that the consumer will use your services?
Many consumers want to know if their credit report and
credit scores will allow them to purchase or refinance
a home and they are willing to pay for this credit information.
Now the consumer can pay directly at “point of
request”. Simply input the consumer’s credit
card # when entering their ID information and the consumer’s
credit card will be charged.
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