LQ Debt Monitoring
Actively Monitor Applicant Credit Profiles for LQI Compliance
In support of the Fannie Mae Loan Quality Initiative (LQI), CoreLogic® Credco® offers LQ Debt Monitoring - designed to help you satisfy requirements to determine and disclose all borrower debt on the final loan application. LQ Debt Monitoring will actively scan your borrower’s credit profile and notify you on a daily basis of any changes that could affect your lending decision.
- Actively monitor borrower credit for new debt liabilities
- Maintain LQI compliance
- Reduce risk, streamline quality control processes
- Provides insight into a consumer’s credit behavior that may affect their ability to pay
Monitoring solutions allow you can keep tabs on just the information that is relevant to your business. With this information, you are better prepared to communicate with your borrowers regarding specific activities during the underwriting process, helping you to maintain LQI compliance, reducing your risk and keeping you focused on funding quality loans. Since it is an active solution based on your requirements, you will only be alerted when a change that could affect your decision making occurs.