Alternative Credit
Do you have customers with limited credit reporting to the bureaus?
Reflect a borrower’s willingness and ability to meet credit obligations by utilizing alternative credit (housing, utilities, car insurance, rent, etc.), which allows lenders to draw a logical conclusion about a borrower’s commitment to making payments on a new mortgage.
- Adds alternative credit history for borrowers that have minimal or no credit
- Improving your customer’s opportunity to own a home by providing additional credit history
- Third party verification
- Close more loans with additional credit history
- Satisfies underwriting guidelines by providing additional credit history
- Verifies information that may not report to the 3 major credit bureaus