With nearly 40 years of
experience in the credit industry, Certified Credit understands the
obstacles that modern mortgage lenders face. To combat these
challenges, Certified Credit has created a suite of automated
solutions, including their latest release, Cascade UDM.
Cascade UDM addresses the
issue of last-minute fallouts due to unexpected changes in borrowers’
credit activity, while helping lenders meet secondary market loan
quality standards. From the first credit pull to closing, Cascade
UDM helps lenders monitor their borrowers’ credit activity
continuously for new inquiries and balances that have the potential
to derail the loan process.
According to Founder and CEO
of Certified Credit, Lucy Kereta-Block, “In today’s mortgage
market, lenders are always looking for ways to streamline their
underwriting process. Reducing mortgage fraud is also a top concern.
Without continuous credit monitoring until closing, lenders’
fallout and repurchase risk can go up. That’s where Cascade UDM can
help.”
Using advanced automation,
Cascade UDM monitors borrowers’ credit activity as they move
through lenders’ sales pipelines. It integrates seamlessly with
many popular loan origination software (LOS) systems, enhancing
convenience for lenders. By using Cascade UDM, lenders can receive
daily insights and instant alerts via text/SMS, email, or throught
API regarding their borrowers’ activity, including:
- New tradelines
- New credit inquiries
- Late payments
- Increases in
debt-to-income ratios - Increases in payments
- Collection items
With these timely alerts,
lenders can reevaluate borrowers with sudden credit changes right
away, rather than finding out right before closing. In turn, they can
prevent expensive repurchase demands and costly closing issues.
Cascade UDM can also enhance LQI compliance, enabling lenders to meet
secondary market loan quality standards with greater ease.
According to Lucy Kereta-Block, “The
mortgage lending process requires continuous monitoring. Most lenders
don’t have time to do that on their own. Cascade UDM automates this
otherwise tedious process, freeing up lenders’ time to focus on
other areas of their business that contribute to on-going success.”
Cascade UDM is just one of Certified
Credit’s many automated solutions. Their Cascade line also
includes:
-
Cascade Alerts – Low
customer retention is a big problem in the mortgage industry.
Cascade Alerts helps lenders enhance their customer retention and
tap into their existing customer base to find new leads. By
monitoring existing clients’ credit activity, Cascade Alerts can
let lenders know when their past and present clients are in the
market for new mortgages, giving them a chance to vie for their
repeat business. -
Cascade Verification of Income
and Employment (VOE) – Making sure applicants have the income
and employment history they claim is a crucial, yet cumbersome, part
of the mortgage lending process. Cascade VOE makes it simpler
through automation. By streamlining the ordering process, Cascade
VOE helps lenders complete verifications faster and more
affordably. -
Cascade Prequal – Lenders
that offer prequalification cast a wider net for potential leads.
Prequalification also helps aspiring homeowners understand their
creditworthiness without harming their credit scores. With Cascade
Prequal, lenders can offer prequalification on their website and
share automated responses with their applicants, expanding their
sales pipelines throughout the process.
In addition to Certified Credit’s
Cascade solutions, the company is a full service, credit partner that
offers a wide range of tools to help lenders improve their customer
relationships, grow their businesses, adhere to regulatory
requirements, and lower their costs. To learn more about Certified
Credit’s products and services, call 1-800-769-7615 or visit
www.certifiedcredit.com.
Media Contact: Certified Credit 1-800-769-7615
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Release ID: 305710
