CreditIQ

Expanded Credit Report

Available exclusively from CoreLogic Credco®, CreditIQ is an expanded, fully decisionable FCRA-compliant credit report that helps lenders mitigate previously hidden risks while identifying new lending opportunities.

Exclusive data intelligence

The supplemental data featured in CreditIQ is sourced exclusively from the CoreLogic proprietary information databases, the largest and most comprehensive collection of real estate, rental information and public records in the nation. Our databases contain over 700 million consumer transaction records covering 99.9 percent of U.S. property owners, county, municipal and special tax jurisdictions, landlord/tenant data, residential properties and liens and consumer-specific bankruptcies, liens and judgments.

The CoreLogic aggregated consumer data includes:

  • Property ownership and mortgage obligation records
  • Property legal filings and tax payment status
  • Rental applications and collection accounts
  • Consumer bankruptcies, liens, judgments and child support obligations

CreditIQ shortens reporting times for new mortgage liens from an average 60 to 90 days to an average of 23 days – which can be up to two months sooner than traditional credit report updates – allowing lenders to obtain critical borrower data faster than ever before. Plus, the property information is associated to the related mortgage tradelines, saving your underwriters time normally spent manually associating this information.

Kick Start Your Home Equity Lending Program

CreditIQ is an ideal pre-qualification tool for your home equity lending program. The added property information gives you critical insight into the borrower's overall standing, including the number of open liens, any public records and an estimated home value. Having this information at pre-qualification help you catch potential problem applications before you spend hundreds of dollars on property and title searches, allowing you to focus only on the loans with the best chance of success.

CreditIQ:

  • Uncovers unique mortgage data for 1 in 13 mortgage applicants
  • Helps lenders mitigate risk and identify new lending opportunities
  • Helps lenders make better informed lending decisions, improving loan portfolio value and performance
  • Associates property information with related mortgage tradelines
  • Delivers new mortgage liens up to two months faster than traditional credit reports
  • CoreLogic supplemental credit data is easy to identify and interpret in the CreditIQ
  • Currently available on major LOS platforms via MISMO/XML format
  • One-Call Consumer Assistance and Disputes Resolution
  • FCRA-compliant and 100% actionable

 

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