MFI Credit Solutions began providing credit information to local mortgage banks, brokers and financial institutions in 2003. Since that time, we have expanded to become a nationally recognized provider of credit reporting services, and now have a diverse portfolio of products to support the growing needs of our clients.
Credit reports are an essential part of the lending cycle. Our lenders know that we have developed and maintain strong relationships with all three major credit bureaus, enabling MFI to offer customizable, easy-to-read credit report formats from each. In addition to this, we also offer credit scoring products to help you close more loans, along with fraud prevention and debt monitoring between application and closing.
Choose the credit report that is right for you – single bureau of your choice or request merged credit reports from 2 bureaus or three.
Mortgage lenders need more transparency into the credit activity of borrowers during the underwriting process in order to better mitigate risk and improve underwriting efficiency. Our response to this need is undisclosed debt monitoring. This process monitors the time between the application process and closing of the loan with an “always on” approach. Your borrower files are continuously monitored with daily alerts provided to lenders of activity that may present potential risk associated with mortgage loans in their pipelines.
We provide credit score disclosures (CSD) to consumers in connection with an application for a home loan to help you maintain compliance with the Fair and Accurate Credit Transaction Act (FACT Act). The CSD discloses the credit score, the lender used in connection with the consumer’s loan application and home loan, and key factors affecting the credit score. It contains information for each credit reporting agency used. Custom disclosures are also available to meet your business needs.
Our merged credit report blends the trade line information from all three credit repositories – Equifax, Experian and TransUnion. Our two and three bureau merged reports are customizable to your organization, allowing you to select the desired display and arrangement of data on the report itself.
We provide a full suite of software to assist with improving credit scores to meet underwriting guidelines. Lending professionals are the experts when it comes to getting people into their dream home. Sometimes, however, our lenders need additional insights to give their customers actionable advice that will help improve their credit rating and close the loan.
We offer lenders a better way to qualify more borrowers without the cost of a hard inquiry credit report or a credit disclosure. Our solutions help you pre-qualify your borrowers by gathering the consumer name and address, then orders a single-bureau, soft inquiry credit report with a score. Your borrower’s score is not impacted.
Evaluate your customers, partners or vendors quickly. MFI offers a variety of solutions for your credit reporting needs to help you evaluate the financial health of business entities.