Evaluate more borrower data
Every borrower is different. So finding new ways to evaluate borrower data is key to helping more people become homeowners while giving lenders confidence in their lending decisions.
Desktop Underwriter® (DU®) utilizes asset verification reports to validate borrower asset data and more – including considering rent payments for first-time homebuyers and money management habits for borrowers without credit scores. This additional view into a borrower's financial health can help enhance DU’s credit assessment and enable lenders to qualify more borrowers.
Increase lending opportunities
- Leverage a cash flow assessment to help consumers who apply for home loans where no borrower has a credit score
- Use consistent rent payment history to qualify more first-time homebuyers (for borrowers with a credit score)
- Obtain asset validation for borrowers through the DU validation service
Gain efficiencies
- Reduce paperwork by using digital capabilities
- Save time for lenders and borrowers
- Simplify the underwriting process to satisfy the nontraditional credit reference requirements per the Selling Guide (for borrowers with no credit score)
Propel your business with powerful capabilities and make the most of every lending opportunity.
THINK BEYOND THE CREDIT SCORE
Create more access to lending for borrowers with no credit score.
Resources to talk to borrowers
Borrowers may have questions about asset validation. Here are some tips to proactively help:
- Share what validation is
- Discuss the process and how it works
- Explain the security measures your company has in place to protect their data
Here are resources to help with your conversations:
