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Equifax and D+H Partner on Real-Time Credit Info for Prospective Borrowers

NationalMortgageProfessional.com
Aug 20, 2014

Equifax Inc. has announced that Credit*Hi-Lite, the company's tri-merge consumer credit report, is now integrated with D+H's LaserPro, a compliant lending and documentation solution. Integrating Credit*Hi-Lite with the LaserPro Consumer Origination & Processing and Mortgage Origination & Processing modules enables mortgage loan originators to optimize their sales workflow, provide borrowers with immediate eligibility feedback, and present loan options that are appropriate for the borrower. Upon request, lenders using the LaserPro Consumer and Mortgage Origination & Processing modules are able to access tri-merged credit reports directly from within their LaserPro transactions. This capability automatically populates liability, credit score and key factor data into LaserPro which further streamlines data entry tasks. Applications are automatically populated with credit report liability data so that lenders can quickly determine an applicant's ability to repay. In addition, credit scores and related key factors populate Credit Score Disclosures, Risk-Based Pricing and Adverse Action Notices and Credit Approval Worksheets in LaserPro. "Reducing workflow timelines and eliminating issues associated with manual data entry is pivotal to lenders' success," said Craig Crabtree, SVP of Equifax Mortgage Services. "Delays are costly and can quickly pile up, so it is important to have a means of preventing those headaches altogether. Combining D+H's expertise and proven technology with our leading data insights provides lenders with the strongest possible defense in the fight against challenges in loan processes." "We are pleased to offer this integration to our clients to streamline their loan life cycle and reduce errors in the process," said Mitch Lucas, vice president of product management and legal compliance at D+H. "Providing this expanded functionality with Equifax as one of the industry's leading credit data providers with LaserPro is a way to help our mutual clients be more accurate and efficient in their lending process."