Instructions for Pulling Credit Reports

Transcription

1 Guide to Credit Reports in DirectWare Bulletin: 12/19/2007 Follow these simple instructions to complete your request for a new credit report or to re-issue an existing credit report in DirectWare. There are many different credit vendors that DirectWare is compatible with. Reading through this guide will help you successfully pull credit reports in DirectWare. Instructions for Pulling Credit Reports 1. Login to DirectWare or 2. Select the borrower you would like to pull a credit report for or create a new loan. 3. Access the credit report interface. Click-path: DirectWare >> Choose a Client >> Submission Ready Wizard. Once your borrower has been selected click the Submission Ready Wizard link on the left hand navigation bar. This will bring up the credit report request form.

2 4. Validate Borrower Information Validate that all of the borrower information listed on the credit report request form is correct. If you are re-issuing a credit report ensure that the borrower information matches the information that was listed on the original credit report. Common mistakes: o Pulling a credit report with two borrowers then removing a borrower from the loan application without pulling a new credit report to match. o Missing date of birth for the borrowers on the loan application. o Mismatched social security numbers. o Inaccurate borrower address on the loan application when reissuing a credit report. 5. Requesting the Credit Report Locate the reporting agency you would like to pull credit from in the Reporting Agency drop down menu.

3 Now locate the associated vendor instructions below for the Reporting Agency you have selected in the drop down in the next section for further instructions. Informative Research Providers Meridian Link Providers Kroll Factual Data Land America First American Credco

4 Instructions for using Meridian Link and Informative Research providers. 1. Select the Meridian Link Provider from the Credit Report Request Reporting Agency drop down. For a list of Meridian Link credit providers: Meridian Link Vendors List For a list of Informative Research credit providers: Informative Research Vendors List 2. Re-issuing an existing credit report. Select the RE-ISSUE check box after choosing your Reporting Agency. Enter the Report File Number located on the top of the credit report:

5 Enter the Instant View password located near the bottom of the credit report in the miscellaneous information section of the credit report (Note from image below instant view password was located on page no. 4):

6 After inputting the Report # and Instant view Password click Request Credit Report. You will see a confirmation stating your credit report request has been submitted. After your request has been submitted a credit report request status form will be displayed which will allow you to see that status of your credit report request. This page will display any errors that are returned from the credit reporting agency. Note: As shown below, the completion status will always be shown in the Reported Status column. Please be patient and allow sufficient time for your report to be returned by the credit provider. This normally will finish in 60 seconds or less. Once the credit report is returned from the credit vendor it will be displayed in the Loan Application Wizard.

7 Instructions for using Kroll Factual Data. 1. Select Kroll Factual Data from the Credit Report Request Reporting Agency drop down. 2. Re-issuing an existing credit report. Select the RE-ISSUE check box after choosing Kroll Factual Data. Enter the Report File Number located on the 1 st page of the credit report.

8 Enter your Fannie Mae Credit Account # Enter your Fannie Mae Credit Password. Click Save as default to save Kroll as your default credit reporting agency. Click Request Credit Report to submit your credit report request. 3. Pulling a new credit report Enter your Fannie Mae Credit Account # Enter your Fannie Mae Credit Password. Click Save as default to save Kroll as your default credit reporting agency. Click Request Credit Report to submit your credit report request. After your request has been submitted a credit report request status form will be displayed which will allow you to see that status of your credit report request. This page will display any errors that are returned from the credit reporting agency. Note: As shown below, the completion status will always be shown in the Reported Status column. Please be patient and allow sufficient time for your report to be returned by the credit provider. This normally will finish in 60 seconds or less. Once the credit report is returned from the credit vendor it will be displayed in the Loan Application Wizard.

9 Instructions for using Land America. 1. Select Land America Credit from the Credit Report Request Reporting Agency drop down. 2. Re-issuing an existing credit report. Select the RE-ISSUE check box after choosing Kroll Factual Data. Enter the Report File Number located on the 1 st page of the credit report. Enter your Land America Username. Enter your Land America Credit Password. Enter your Land America Account #.

10 Click Save as default to save Land America as your default credit reporting agency. Click Request Credit Report to submit your credit report request. 3. Pulling a new credit report Enter your Land America Username. Enter your Land America Credit Password. Enter your Land America Account #. Click Save as default to save Land America as your default credit reporting agency. Click Request Credit Report to submit your credit report request. After your request has been submitted a credit report request status form will be displayed which will allow you to see that status of your credit report request. This page will display any errors that are returned from the credit reporting agency. Note: As shown below, the completion status will always be shown in the Reported Status column. Please be patient and allow sufficient time for your report to be returned by the credit provider. This normally will finish in 60 seconds or less. Once the credit report is returned from the credit vendor it will be displayed in the Loan Application Wizard.

11 Instructions for using First American Credco. 1. Select First American Credco from the Credit Report Request Reporting Agency drop down. 2. Re-issuing an existing credit report. Select the RE-ISSUE check box after choosing First American CredCo. Enter the Report File Number located on the 1 st page of the credit report. Enter your First American Credco Username. Enter your First American Credco Credit Password. Enter your First American Credco Account #. Click Save as default to save First American Credco as your default credit reporting agency.

12 Click Request Credit Report to submit your credit report request. 3. Pulling a new credit report Enter your First American Credco Username. Enter your First American Credco Credit Password. Enter your First American Credco Account #. Click Save as default to save First American Credco as your default credit reporting agency. Click Request Credit Report to submit your credit report request. After your request has been submitted a credit report request status form will be displayed which will allow you to see that status of your credit report request. This page will display any errors that are returned from the credit reporting agency. Note: As shown below, the completion status will always be shown in the Reported Status column. Please be patient and allow sufficient time for your report to be returned by the credit provider. This normally will finish in 60 seconds or less.

13 Once the credit report is returned from the credit vendor it will be displayed in the Loan Application Wizard.