New integrated report provides liens and judgments data to mortgage lenders to further assess consumer creditworthiness.
SAN DIEGO, CA, UNITED STATES, January 10, 2018 /EINPresswire.com/ — Credit Data Solutions, the industry leader for tri-merged credit reports from Equifax, Experian, and TransUnion, trended data and key verification services for the digital mortgage era, announced the LexisNexis® RiskView™ Liens & Judgments Report is now available. The new report, developed by LexisNexis® Risk Solutions, provides lenders with liens and judgments data from the start of the loan process. The information enables lenders to proactively assess consumer creditworthiness according to established processes and workflows. This new and innovative product also builds the product suite offered by Credit Data Solutions.
As of July 1st, 2017, the three Nationwide Credit Reporting Agencies – Equifax®, TransUnion® and Experian® – began removing approximately 50 percent of tax liens data and 96 percent of civil judgments data from consumer credit reports. Without the liens and judgments data in their reports, lenders could lose the ability to fully analyze credit risk.
Further, without the data available up front in the loan process, lenders will need to resolve any items uncovered further down the line after a loan has already been approved. This can jeopardize their ability to close on time, disrupt the loan process and negatively impact the consumer experience.
“Eric Christensen, Managing Director, Credit Data Solutions, said, “Industry analysts warn that omissions of civil judgment and tax lien information on credit reports could put lenders and borrowers at risk. It will be critical for lenders to adapt to the elimination of civil judgment and tax lien information, specifically as it relates to making good credit decisions with RiskView™ Liens & Judgments Report lenders. “Liens and judgments data are telling of a consumer’s true creditworthiness and level of risk. Without most of this information in consumer credit reports, lenders will have trusted liens and judgments data available at the front end in making their credit decisions. Now more than ever, a lender needs a good credit reporting agency to serve as a business partner.”
About Credit Data Solutions
Credit Data Solutions is an industry leader providing tri-merge credit reports from Equifax, Experian, and TransUnion, rounding out the service list with prequalification credit reports with FICO scores (soft inquiry), QC credit reports (soft inquiry), flood zone determinations, SSA-89s, and AVMs. As a one-stop shop, Credit Data Solutions continues to offer VOE, VOD, 4506-T tax transcripts, LexisNexis® RiskView™ Liens & Judgments Report, CreditXpert® What-If Simulator™, Credit Assure™, Fannie Mae Day 1 Certainty™ – The Work Number®, and AccountChek™.
Credit Data Solutions operates three entities working together that include Service 1st Information Systems, Statewide Credit, and Credit Bureau of San Diego (CBOSD). Credit Data Solutions is a people-centric company founded on the principles of customer-first relationships – People. Service. Solutions.
For more information, visit: www.creditdatasolutions.com
About LexisNexis® Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.lexisnexisrisk.com.
Media Contact Information
Jean Creech Avent
Director, Media and Analyst Relations
LexisNexis is a registered trademark of RELX Inc., used by permission. RiskView is a trademark of LexisNexis Risk Solutions FL Inc.
Credit Data Solutions
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Source: EIN Presswire