Joint Solution Maximizes Credit Reporting Efficiency by Connecting Mortgage Lenders with 80% of all Credit Reporting Agencies
Mortech, a mortgage technology software company specializing in daily pricing, product decisioning and lead management solutions for mortgage bankers and secondary market teams, and the National Credit Reporting Association (NCRA) today announces the availability of an instant access credit reporting agency connectivity portal. The technology platform allows Mortech customers seamless connection to 80% of all credit reporting agencies nationwide directly from Marksman, the mortgage industry’s preferred product and pricing engine and lead management solution.
Bullseye, a new all-inclusive Loan Management and Automated Underwriting solution integrated within Marksman, offers an Intelligent Credit Reporting Engine which pulls and parses credit data from agencies supported by NCRA, allowing loan officers the ability to qualify borrowers early on during the point-of -sale process. Loan Representative Scores are calculated from a Tri-Bureau merge so true credit risk assessments and debt management activities can easily be established.
NCRA’s members represent more than 80% of the companies in the United States that can produce the type of credit reports required by HUD, Fannie Mae and Freddie Mac for mortgage lending, and will offer their extensive industry relationships to Mortech’s customer base. NCRA’s experience with leading credit reporting agencies plus specialty niche companies provides the most options of credit reporting products and services to lenders. The partnership will maximize the number of specialty mortgage credit reporting agencies available to lenders using the Marksman-Bullseye technology.
Additionally, NCRA has been involved in managing Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Prospector technology since they became one of the portal platforms in 1999. The Intelligent Credit Report Engine prepares the loan file for DU/LP runs. Files can be submitted and answers returned within minutes using the Automated Underwriting System in Bullseye.
“This type of connectivity managed by the NCRA’s experienced staff allows us to concentrate on the primary needs of our lenders such as expediting the loan closing process,” said President of Mortech, Don Kracl. “The solution drives efficiencies closer to the point-of-sale, reducing cost through turn times and identification of viable loans.”
“With the credit challenges many consumers have in the current mortgage market, it is imperative to make sure lenders have a credit reporting agency that can provide the crucial customer service required to close these tougher deals,” said NCRA Executive Director, Terry Clemans. “By utilizing NCRA’s relationships in the industry, Mortech has taken a proactive approach to provide their lending customers a variety of efficient services.”
The full Marksman-Bullseye solution offers:
• Seamless access to pull and parse credit with NCRA support
• Link to an all-inclusive rules-based Automated Underwriting System
• Determine the outcome of DU/LP through direct connectivity
• Bi-directional two-way communication with LOS’s
• Complete Document Management System
• Enhanced Mark-to-Market reporting capabilities
Learn more about the Marksman-Bullseye solution or schedule a demo today.
About NCRA, Inc.
The National Credit Reporting Association, Inc. (NCRA) is a non-profit trade association founded in 1992 that represents the Consumer Reporting Industry and specifically credit reporting companies that provide products and services to the housing industry. NCRA represents approximately 80% of the Credit Reporting Agencies in the United States and Puerto Rico that produce specialized Mortgage Credit Reports as required by the Department of Housing and Urban Development, Fannie Mae and Freddie Mac for mortgage loan underwriting. NCRA members provide the mortgage lending community in excess of 3,000,000 credit reports per month.