eMortgage - Equifax

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Merged Credit

The Merged Credit is comprised of information from either one, two or all three of the national credit reporting agencies (CRA). This information is merged and de-duped and returned online within seconds. Lenders may order a single CRA report and choose to manually add additional CRAs or may automatically add CRAs by activating the Equifax IntelliMergeTM service.

Merge Plus

The Merge Plus is ordered after the Merged Credit as a supplemental report. It can be used to update trade-lines or public record information, develop landlord references or add a credit reference that has not yet been reported to the CRAs. The Merge Plus can be ordered online through the REVIEW ORDERS menu, or a request can be faxed or emailed to your Equifax production center. Completed Merge Plus reports may then be viewed /printed through the REVIEW ORDERS menu.

Residential Mortgage Credit ReportTM (RMCR)

The RMCR is a two or three bureau merged credit report in which the applicant may be interviewed, employment and rental references have been verified and tradeline and public record data have been updated within 90 days. A copy of the 1003 must be faxed over to your Equifax production center to place the order. This report is frequently ordered when there are more than three trade references that need to be investigated. The completed report can then be viewed/printed through the REVIEW ORDERS menu.

Expedited Consumer Dispute Process

Expedited Consumer Dispute Process is a product that allows Equifax to submit documentation to any or all of the three repositories to correct errors on the consumer credit file. Disputed or incorrect items that appear on the Equifax report can be updated at the repository level. The process is done much more quickly than the standard consumer dispute process that can take up to 30 days. Although we cannot guarantee a delivery date, typically it will be less than 72 hours after we receive and validate the documents. Once we are notified that the updates have been completed we will contact you to re-pull the borrower's report to see the result of the updating

International Mortgage Credit Reports

International Mortgage Credit Reports are offered by Equifax Mortgage Solutions. They are intended to serve as a method for obtaining a credit history for borrowers who have lived somewhere other than the United States or Canada or, for borrowers who have established credit in a foreign country.

Non-Traditional reports

Non-Traditional reports are offered by Equifax Mortgage Solutions. They are intended to serve as a method for developing a credit history for borrowers who do not have the types of credit that would appear on a traditional credit report. A Non-Traditional Mortgage Credit Report can be used either as a substitute for a traditional credit report (if a borrower does not have a credit history with traditional credit providers) or as a supplement to a traditional credit report that has an insufficient number of credit references. Credit histories can be developed from rent verifications from the borrower's current and previous landlords, verifications of utility payments and telephone bills, or verifications from other sources of financial obligation.

Business credit report

Upon request from the customer Equifax Mortgage Solutions (EMS) will process a Business credit report. This report type is typically requested when a borrower is self-employed and those creditors that are dealt with on the business-level need to be captured.

Trended Credit*Hi-Lite

Trended credit data provides an expanded, more granular view of the consumer by leveraging 24 months of specific consumer payment behavior - including scheduled payments, actual payments and past balances. With 24 months of historical payment data of the consumer, lenders are able to extract meaningful statistics to help predict future behavior. Using trended credit data will help mortgage lenders examine how consumers are managing their credit accounts over time. Today, you can see consumers existing balances and determine whether they have paid their bills on time; however, generally you cannot tell if consumers are consistently carrying debt loads on revolving accounts such as credit cards, or whether they pay their balances in full every month.

Edited Credit*Hi-Lite

Helps you obtain updated credit report information to satisfy underwriting requirements and can be ordered after Credit*Hi-Lite as a supplemental report. It can be used to update tradelines or public record information, develop landlord references or add a credit reference that has not yet been reported to the credit reporting agencies.

International Mortgage Credit Reports

Can be used to assess borrowers who have lived and/or established credit outside of the United States.

Comply ID

Helps facilitate compliance with the federal "Red Flag" regulations (as defined by the FACT Act) by identifying and resolving bureau alerts and ID discrepancies and providing tracking and reporting for compliance measures.

Risk-Based Pricing Letter Service

Credit Score Disclosure Exception Notice with current scores and a score distribution percentage for all scores reported on the credit report. The current credit score disclosure statement used to support the score disclosure required by Section 609(g) of the Fair Credit Reporting Act will be enhanced to support both a Credit Score Disclosure Exception Notice and a notice for use in the case when no credit score is available.