Credit Radar is a new automated credit analysis tool that instantly identifies critical credit and score issues without digging through the actual credit report. Credit Radar combines revolutionary credit intelligence into an easy-to-read page that is delivered automatically with every credit report… (View a sample report.)

Gain critical insight into key information alerting you to items that impact approval decisioning, rates/terms and perhaps most importantly, exposure to last minute FNMA LQI problems. Credit Radar gives you the ability to identify mid-score trends resulting from common credit-related events occurring prior to closing.

 When combined with Credit Technologies ≥Comply™ service, Credit Radar provides the early warning component of a FNMA LQI / FACTA Red Flag solution.  

The automated credit assessment tools contained in Credit Radar makes credit report review faster and easier and helps avoid surprises later in the lending process…

“Credit Radar functions as a FNMA LQI Stress-Test, identifying potential FNMA LQI problems up-front at the time of application.”

• Mid-score trend indicator, including Credit Assure projections (* if Credit Assure is active on account.)
• Revolving balance “stress-testing” (a critical FNMA LQI tool)
• Alerts you to authorized user accounts that may impact underwriting
• Identifies disputed accounts prior to FNMA/FMAC submission
• <10 payment remaining installment account alert
• Highlights credit bureau alerts, simplifying FACTA Red Flag compliance

Credit Technologies is providing Credit Radar free of charge to all clients July 10, 2010 through August 31, 2010. Thereafter it’s available at the cost of $0.95 per applicant. For more information on Credit Radar or any other Credit Technologies product or service, please contact your Business Analyst, or call 800.445.4922.

©1990-2010 Credit Technologies and the delta logo are registered trademarks of Credit Technologies, Inc. – All Rights Reserved.  CreditXpert® and Credit Radar are trademarks of CreditXpert Inc.

June 8, 2010

As expected, FNMA has issued further clarification since our June 1st LQI letter. The LQI FAQs have been updated regarding Undisclosed Liabilities and the use of a “refreshed” credit report. These clarifications are a result of hundreds of requests for guidance from lenders nationwide and from further direct discussions with the FNMA LQI team. Pertinent excerpts from Fannie Mae LQI FAQs and Fannie Mae Lender Tips are provided below with Updates and emphasis noted…

“As part of the qualifying and underwriting process, lenders are accountable for the accuracy of all information in the loan file up to and concurrent with closing, including changes in borrower circumstances.

Q4. How would a lender confirm that undisclosed liabilities are not present in a transaction, through the closing of a transaction?

The lender is responsible for implementing practices to identify undisclosed liabilities in a transaction. It is the lender’s responsibility to develop and implement its own business processes to support compliance with Fannie Mae’s requirements on loans delivered to us. Although many lenders already have such processes in place, Fannie Mae provides lender tips on eFannieMae.com regarding practices that may provide insight as to the presence of undisclosed liabilities. Some examples include: 

• Updated Retrieving a refreshed credit report just prior to the closing date and reviewing it for additional credit lines.
• Updated Direct verification with a creditor that is listed on the credit report under recent inquiries to determine whether a prospective borrower did in fact enter into a financial arrangement with the creditor, which may not be listed on the loan application.
• Running a Mortgage Electronic Registration System (MERS®) report to determine if the borrower has undisclosed liens or another mortgage is being established simultaneously.

Q5. If the lender obtains a new credit report or “refreshes” the current credit report prior to closing and discovers new liabilities or identifies differences in the information, must the loan be re-underwritten with the information from the new or “refreshed” report?

Fannie Mae’s updated policy requires that lenders determine that the borrower has not established additional debt on or prior to the closing date. If additional liabilities are discovered, lenders must consider any such additional debts of the borrower in the qualification.

If the lender is using Desktop Underwriter® (DU®) and identifies differences between the new and/or refreshed credit report and the credit report used when underwriting the loan casefile through DU, the lender must take appropriate action when information that was not considered by DU might result in a recommendation other than that returned by DU.

Examples of situations in which loan casefiles should be resubmitted to DU:

• If additional debt has been incurred and the inclusion of the additional debt would increase the total expense ratio to a level outside the tolerance specified in section B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report, of the Fannie Mae Selling Guide.
• Updated If new derogatory information is detected and/or the credit score has materially changed.

An example of a situation in which the lender should not have to resubmit the loan casefile to DU would be if credit balances have changed slightly but the change in the total expense ratio remains within the DU Tolerances policy (referenced above).

Q6. If the lender pulls a new credit report the day before closing and no differences are found compared with the original credit report, is the lender relieved of representations and warranties for undisclosed liabilities?

No. Although pulling a new credit report may reduce the lender’s risk exposure related to its representations and warranties on undisclosed liabilities, lenders remain responsible for any and all borrower debt up to and concurrent with closing.”

###

 Credit Technologies LQI solutions are in place and currently available. As these guidelines remain subject to lender interpretation, no single solution is applicable for all, as individual lenders will provide additional clarification as to their specific requirements, You have the ability to create a FNMA “Refresh” report utilizing hard or soft inquiries (no FICO score impact) customized to your specific needs (number of bureaus, with/without scores…)

Note – There has been much confusion regarding the use of ”hard” vs. “soft” inquiries. There is no difference as to the content of the report, cost, nor impact on existing FICO scores. FNMA offers no guidance as to the type of inquiry used to create the refresh report however; there is a significant limitation placed on the use of “soft” inquiries. Current repository restrictions limit the use of reports based on soft inquiries, specifically, a report comprised of soft inquires cannot be reissued through any AUS including FNMA DU which may limit the use of certain refresh reports. Credit Technologies provides access to both types of reports on a case-by-case basis allowing you to satisfy varying lender requirements.

The development of our best-practice LQI solutions is based on careful review of the LQI guidelines and direct discussions with the LQI team.

≥Comply provides the bundled resources needed to meet FNMA guidelines along with FACTA and Red Flag requirements in a turn-key, easy to deploy solution including,

• LQI Comparison Report dramatically simplifies compliance with FNMA Undisclosed Liabilities guidelines. Comparative data points include,
• Existing tradelines including public records and collections
• Balances, payment amounts enabling easy recognition of DTI changes
• Inquiries
• FICO scores
• Data Set (borrower names, addresses, Soc Sec, DOB…)
• Level One Authentication – Provides the needed ID verification and fraud detection tools and meets FNMA requirements for the initial validation of applicant social security numbers.
• EasyRed Flag – Simple to deploy detection and response tools, training and support learn more…
• FACTA Notice Compliance Certificate Service – Automates the required FACTA consumer disclosures
• Exclusive access to the LQI STAT Team – Most importantly, as a ≥Comply subscriber, when last minute issues are detected (often within 72 hours of closing) any update, inquiry clearance or rescore requests are handled by our specially trained LQI STAT team and receive the very highest priority learn more…

To add a ≥Comply subscription to your account, please call 800.445.4922, option 1, or simply subscribe via email.

Additional resources,

Fannie Mae LQI Summary

Fannie Mae LQI FAQs

Fannie Mae Lender Tips for Identifying Undisclosed Liabilities

Credit Technologies ≥Comply

© 2010, Credit Technologies, Inc. – All Rights Reserved.

Much confusion surrounds the new Fannie Mae LQI “guidelines”, particularly regarding the standards for detecting undisclosed liabilities. Rather than establish set requirements or procedures, FNMA has instead published a set of best-practice guidelines and left it up to individual lenders to establish their own respective policies and requirements to mitigate repurchase risks. While LQI guidelines state that it is not a requirement that a “refresh” credit report be obtained, the “suggested” data comparisons can only be accomplished through the use of a credit report refreshed just prior to closing.

Varying lender interpretations and policies have made compliance difficult for correspondents and brokers. Perhaps most challenging is FNMA’s assertion that the comparison of the initial credit report and the refresh credit report be completed very close to the time of closing.

The following excerpts from FNMA’s LQI Lender Tips and FAQs provide an overview of the guidelines pertaining to undisclosed liabilities and example solutions…

“As part of the qualifying and underwriting process, lenders are accountable for the accuracy of all information in the loan file up to and concurrent with closing, including changes in borrower circumstances.

Lenders must take steps to proactively identify any and all undisclosed liabilities that may affect the loan approval in relation to underwriting guidelines, eligibility parameters, or pricing. It is the lender’s responsibility to develop and implement its own business processes to support compliance with Fannie Mae’s requirements on loans delivered to us. Although many lenders already have such processes in place, Fannie Mae is providing some tips for lenders to consider:

• Refreshing a credit report just prior to closing may uncover additional debt or credit inquiries.
• Credit inquiries listed on the credit report should be investigated to determine whether the borrower did in fact open additional debt resulting in repayment obligations. In some cases, it is possible to obtain a direct verification with the creditor associated with the inquiry.
• Fraud-detection tools are available through multiple vendors that assist lenders in identifying undisclosed mortgages or other potentially fraudulent scenarios.

Q5. – If the lender obtains a new credit report or “refreshes” the current credit report prior to closing and discovers new liabilities or identifies differences in the information, must the loan be re-underwritten with the information from the new or “refreshed” report?

 Fannie Mae’s updated policy requires that lenders determine that the borrower has not established additional debt on or prior to the closing date. If additional liabilities are discovered, lenders must consider any such additional debts of the borrower in the qualification.

 If the lender is using Desktop Underwriter® (DU®) and identifies differences between the new and/or refreshed credit report and the credit report used when underwriting the loan casefile through DU, the lender must take appropriate action when information that was not considered by DU might result in a recommendation other than that returned by DU.  

 Examples of situations in which loan casefiles should be resubmitted to DU:

 •           If additional debt has been incurred and the inclusion of the additional debt would increase the total expense ratio to a level outside the tolerance specified in section B3-2-10, Accuracy of DU Data, DU Tolerances, and Errors in the Credit Report, of the Fannie Mae Selling Guide.

•           If new derogatory information is detected and/or the credit score has materially changed.

An example of a situation in which the lender should not have to resubmit the loan casefile to DU would be if credit balances have changed slightly but the change in the total expense ratio remains within the DU Tolerances policy (referenced above).

 Q6. If the lender pulls a new credit report the day before closing and no differences are found compared with the original credit report, is the lender relieved of representations and warranties for undisclosed liabilities?

 No. Although pulling a new credit report may reduce the lender’s risk exposure related to its representations and warranties on undisclosed liabilities, lenders remain responsible for any and all borrower debt up to and concurrent with closing.”

###

 No single solution is applicable for all as individual lenders will provide additional clarification as to their specific requirements. Credit Technologies provides the ability to create a FNMA “Refresh” report utilizing soft inquiries (no FICO score impact) customized to your specific needs (number of bureaus, with/without scores…)

 In addition and based on our interpretation of the LQI guidelines including direct discussions with the LQI team, Credit Technologies has developed a suite of best-practice solutions that can be customized to your specific needs on a per case basis.

 ≥Comply provides the bundled detection resources needed to meet LQI guidelines along with FACTA and Red Flag requirements in a turn-key, easy to deploy solution including,

• LQI Comparison Report dramatically simplifies compliance with FNMA Undisclosed Liabilities guidelines. Comparative data points include,
  • Existing tradelines including public records and collections
  • Balances, payment amounts enabling easy recognition of DTI changes
  • Inquiries
  • FICO scores
  • Data Set (borrower names, addresses, Soc Sec, DOB…)
• Level One Authentication – Provides the needed ID verification and fraud detection tools and meets FNMA requirements for validation of applicant social security numbers.
• Red Flag – Simple to deploy detection and response tools, training and support
• FACTA Notice Compliance Certificate Service – Automates the required FACTA consumer disclosures

Most importantly, as a ≥Comply subscriber when last minute issues are detected (often within 72 hours of closing) any update, inquiry clearance or rescore requests are handled by our LQI STAT team and receive the very highest priority learn more…

To add  ≥Comply to your account, simply call 800.445.4922, option 1 or send your request us Via email

 Additional resources,

Fannie Mae LQI Summary

Fannie Mae LQI FAQs

Fannie Mae Lender Tips for Identifying Undisclosed Liabilities

Credit Technologies ≥Comply

© 2010, Credit Technologies, Inc. – All Rights Reserved.

Credit Technologies has been advised that effective immediately, the IRS has begun verifying the address(s) provided on all 4506T requests.  Requests that do not contain  an address that matches the current address on file with the IRS will be rejected and are subject to the standard fee. This places additional importance on the applicant including (as either the current or previous address,) the address believed to be on file with the IRS. To clarify, the logic used by the IRS is as follows,

One of the addresses provided on the 4506T form must match IRS records (typically the address used on the last filed Federal Tax Return.) If neither supplied address is matched, the request will be rejected.

Should a consumer need to update an address, IRS FORM 8822 should be completed and transmitted to the IRS 4-6 weeks prior to any request for tax documents.

We have also been advised that these additional requirements will result in delays on the part of the IRS in processing. Initial impact seems to be about an additional 24 hour delay in receiving tax transcript requests.

For additional information on IRS4506 tax transcript services, please call 800.445.4922 Option 1.

Urgent Update to Mortgage Security Breaches – Please Read The Entire Notice

 This notice contains,

• Critical information on the virus currently targeting mortgage brokers
• Steps Credit Technologies is taking to enhance security that may impact your access credit data.
• Immediate actions you should take to protect yourself from these attacks

On 4/2/2010, we issued an alert about an email based virus that was targeting mortgage brokers and lenders Nationwide. This “key logger” virus, continues to be sent to thousands of mortgage professionals. Once infected, the hackers are able to collect all information on the infected computer including access to your banking, credit card and credit reporting accounts – virtually anything that is accessed from that computer including access to your LOS and borrower files.  These attacks are continuing with alarming success. The hackers are finding that many mortgage professionals do not have adequate security in place and are able to access their computers and effect data breaches. To date, these breaches have impacted hundreds of mortgage professionals and thousands of consumers.

 Steps Credit Technologies Is Taking

 In order to assist our clients in combating these attacks, Credit Technologies is taking immediate action to enhance security procedures as it applies to protecting consumer credit data including, 

• Effective immediately – The default daily order limits have been reduced to 10 reports a day (per user login.) This can be adjusted on an as-needed basis.
• After Hours Web Access Restrictions – Effective April 12 2010, after hours web access will be available only to devices on which a security certificate has been installed (you are automatically prompted to install the security certificate the first time you access Credit Technologies.) This will not impact users that access through a LOS, FNMA or FMAC. Full web access will be available Monday-Friday, between the hours of 8:00AM and 10:00PM Eastern (5:00am-7:00PM Pacific.)

 We are currently developing additional security features including enhancements to the security certificate that will further protect your account from potential data breaches.

 Steps You Should Take immediately 

• Make sure you have anti-Virus and Anti-Spyware protection installed on EVERY computer that has access to the Internet and that it is set to automatically update not less than once per week. This simple solution will protect you from this ongoing attack. If you do not have Anti-Virus software installed, it must be installed and a full system scan completed prior to accessing consumer credit data. Credit Technologies does not endorse or require any specific brand of anti-virus software. There are numerous versions available including free versions such as Avast
• Make sure every computer with access to the Internet is protected by a Firewall. This protects your computer from hackers that scan the Internet looking for unprotected computers, then accesses your computer through an unlocked or open port. These types of intrusions can happen without you receiving any virus email or clicking on any link. Most operating systems (i.e. Microsoft Windows) have a built in Firewall, just make sure it is turned on. There are also numerous other firewall programs available, including a free version offered by ZoneAlarm
• Once you have current and up to date Anti-Virus and Spyware protection – complete a full system scan of all computers to confirm that no viruses are present. Once this scan is complete, we strongly suggest you evaluate all login credentials (not just those for accessing Credit Technologies) and select passwords that cannot be guessed or easily researched through the Internet or through background searches (the hackers are using cheap background searches to defeat security questions such as “Where Were You Born”, or “Parents Names”.)

We strongly urge you to share this information with every employee and promote the recommendations contained therein.  Credit Technologies will keep you apprised of any further developments regarding this issue.

Thank you for choosing Credit Technologies and for your swift adoption of these safeguards.

In recent days the credit bureaus and Federal law enforcement have seen a sudden and significant increase in the number of mortgage professionals falling victim to computer hackers resulting in data breaches and cases of identity theft. One example includes an e-mail claiming to be from UPS attempting to verify the user’s address for a delivery.  Here’s an example of one form of the virus email…

“UPS Delivery Problem NR.5660
UPS_Invoice_7892.zip
From: <Redacted>
Sent To: <Redacted>
Subject: Attachments:

From: Postal Manager Rogello Jewell [mallto:pan:el@ups.com] sent Sat 3/6/2010 10:27 AM
Subject: UPS Delivery Problem NR.5660

Dear Customer!

We were not able to deliver postal package you have sent on the 25th of January in time because the addressee’s address is incorrect.  Please print out the invoice copy attached and collect the package at our office. 

United Parcel Service of America.”

When the user clicks on the link, a “key logger” virus is installed (this happens in the background and is not noticeable to the user.)  This virus then tracks and records every key stroke made on that computer and sends the information to the hackers. Once the hackers have the users logins and passwords they have access to all user data including banking, credit card and credit reporting.

 These hackers appear to be specifically targeting mortgage brokers and seem to have knowledge of the mortgage banking industry and practices.  They have also been able to defeat the security certificate by “guessing” at secret questions that are far too easy or by using the Internet to research common answers to the secret question. Once they solve the secret question, they are able to gain full access to that users credit reporting account (in addition to any/all information accessible by that user.)

 To reduce the chance of falling prey to this virus and scam, (and to comply with Federal Laws and repository regulations regarding the protection of consumer credit data) Every user should immediately complete the following steps…

1.     Verify that all computers utilized are running anti-virus and anti-spyware software.
2.     Update all antivirus and anti-spyware software to insure you are using up-to-date virus detection models.
3.     Each computer should also be running an appropriate firewall service – with the default to block any unknown program or access. (i.e. Windows Defender or ZoneAlarm)
4.     Once updated, run a full antivirus/antispyware scan of your entire computer(s).
5.     Once confirmed that your computer is not infected, change your Credit Technologies password (and any other secure passwords to private information).
6.     Review any secret question/answer combination to insure the answer cannot be researched and located through the internet.

Additional best practices that can limit your risks of contracting a virus include,

 - Whenever possible limit personal internet usage on corporate computers
- Never open any e-mailed link or attachment that you were not expecting, even if you recognize the sending party.
- All computers should be set to automatically update antivirus software, and routinely install Microsoft Critical Updates (preferably automatically).

At the first sign of trouble – have your computer checked again and immediately contact your administrator or IT professional.  After an infection is found and removed a full review needs to be completed to locate any private information that may have been compromised.  Any credit card numbers should be cancelled, all passwords changed, etc immediately.

 Thank you for your immediate attention to this issue.

EasyRedFlag

The FTC has for the 4th time, issued an enforcement delay of the FACTA Red Flag rules until June 1, 2010. In fact, this is a “partial” delay. Not all entities required to comply with FACTA Red Flag benefit from the extension and not all of the FACTA requirements have been delayed. Here’s what happened… 

On October 20, 2009, the House of Representatives unanimously approved HR 3763, a bill which would exempt from the coverage of the Red Flags Rule any health care, accounting, or legal practice with twenty or fewer employees, as well as certain other businesses. For that reason, on October 29, 2009, certain members of Congress requested that the Commission further delay enforcement in order to allow Congress to finalize legislation. The Commission believes that such delay is warranted so that it does not begin to enforce a regulation that Congress plans to supersede. Accordingly, the Commission is extending its forbearance from bringing any enforcement action for violation of the Red Flags Rule against a financial institution or creditor that is subject to administrative enforcement by the FTC until June 1, 2010.

A few important notes regarding this partial enforcement delay -

• Only those governed by the FTC received the enforcment delay.  Entities such as Depository institutions (FDIC) or Credit Unions (NCUA) have been required to comply since 11/1/2008.
• Only section 114 of FACTA (pertaining to identity theft) is covered under this extension. Section 315 dealing with Reconciling addresses has been in effect since 11/1/2008
• Although the FTC granted this enforcement delay, many States (and lenders) are already including FACTA compliance in their requirements and auditing process. 

Here’s an excerpt from the FTC’s press release announcing the delay -

“At the request of Members of Congress, the Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.

 The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

The Commission previously delayed the enforcement of the Rule for entities under its jurisdiction until November 1, 2009. The Commission staff has continued to provide guidance to entities within its jurisdiction, both through materials posted on the dedicated Red Flags Rule Web site (www.ftc.gov/redflagsrule), and in speeches and participation in seminars, conferences and other training events to numerous groups. The Commission also published a compliance guide for business, and created a template that enables low risk entities to create an identity theft program with an easy-to-use online form. FTC staff has published numerous general and industry-specific articles, released a video explaining the Rule, and continues to respond to inquiries from the public. To assist further with compliance, FTC staff has worked with a number of trade associations that have chosen to develop model policies or specialized guidance for their members.”

The entire release is avialable on the Federal Trade Commission website at http://www.ftc.gov/opa/2009/10/redflags.shtm

A new catch-phrase has been created in the mortgage industry “Credit Score Phishing.” This is used to describe a process whereby a mortgage broker or lender, through their Credit Reporting Agency (CRA) reviews all available FICO score models, and then selects the highest of those scores for use on mortgage loan applications.

Both GSEs (Fannie Mae and Freddie Mac) have created policies stipulating the accepted FICO score models and have recently issued multiple memos to those submitting loans to FNMA and FMAC. These notices reiterate the requirement that only approved FICO score models be used. Similar warnings were sent to all participating CRAs. At present, the only credit scoring models approved by both GSEs are,

•Equifax Beacon 5.0
•TransUnion FICO Risk Score, Classic 04
•Experian/Fair Isaac Risk Model V2

It should be noted that while GSE underwriting systems (FNMA Desktop Underwriter and FMAC Loan Prospector) do not currently have the ability to detect/reject a loan based on  the credit score model submitted, both have warned against the use of any non-approved score models.

Despite these warnings, some CRAs are still providing brokers and lenders credit reports containing prohibited scoring models, in violation of GSE policies. Those submitting tri merge credit reports containing unapproved scoring models run the risk of penalties and sanctions by the GSEs that could include loan buy back, rejection of future loans and/or refusal to accept credit reports from credit reporting agencies found in violation of GSE policies.

More information on FNMA / FMAC credit score requirements are available at,

https://www.efanniemae.com/sf/technology/ou/du/pdf/ducreditscoremodel.pdf

http://www.loanprospector.com/about/crc.html

In an effort to stem the tide of mortgage fraud associated with misstated income, Fannie Mae announcement 09-19 tightens the requirements regarding the use of IRS tax transcripts to verify mortgage borrower income.

FNMA now “highly recommends” that 4506-T transcripts be obtained from the IRS (or designee) for the transaction prior to closing and is used to validate the income documentation provided by the borrower and used in the underwriting process.

Effective, September 1, 2009, Fannie Mae requires all lenders to:

• Obtain from the borrower(s) a completed and signed Form 4506-T at both loan application and closing.
• Include the execution of Form 4506-T to the lender’s written quality control plan.
• Verify that all loans selected for quality control review, whether under the random or discretionary sampling include, in addition to all current requirements, the execution and reconciliation of the transcript information with the income documents in the loan file.

These requirements have caused a significant increase in the number of lenders requiring brokers and correspondents to include executed 4506T transcripts with every loan package.

Credit Technologies is an authorized IRS designee and IVES (Income Verification Express Service) provider. Tax return, W-2 and 1099 transcripts are typically available in about 24 hours. More information is available at http://www.credittechnologies.com/4506_Lender.asp or call 800.445.4922.

Fannie Mae Memo 09-19 can be read in its entirety at https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0919.pdf

In addition to the increase in the use of AVMs associated with the Home Valuation Code of Conduct (HVCC), we’re seeing a trend of conforming lenders requiring the submission of an AVM on the subject property.  The lender then uses the AVM to support the valuation, often in lieu of obtaining a full desk review.  If the AVM does not support the stated value, or it does not accompany the application the lender may reject the application.

An AVM is an instant, computer generated residential property valuation report.  In seconds, AVM’s provide detailed data regarding the subject property including an estimate of value at a fraction of the cost of a traditional appraisal. In most cases, this is a cost born by the mortgage broker that cannot be passed to the consumer.  (View a sample AVM report)

It makes sense for mortgage brokers and correspondents to know the AVM valuation the lender will be using prior to submitting the file – especially when considering the delay in obtaining the full appraisal (compliments of HVCC.)  CT provides instant online access to the most often utilized AVM models at minimal costs and without any account set up or monthly minimum fees.

Visit http://www.credittechnologies.com/Automated_Valuation_Models_AVM.asp to learn more including setting up your free account or activating AVM access on an existing account.

Consumers needing a fast and accurate value on their, or any property can also access to the same AVM property valuations used by mortgage lenders, appraisers, Realtors^® and attorneys nationwide without having to establish an account at http://www.credittechnologies.com/avm.asp