Overview
The Merge Plus Supplemental Report and Rapid Recheck (Rescore) products are used to clarify or resolve incomplete, missing, or questionable tradeline and public record information on a credit report.
For these processes to be successful, key borrower information and supporting documentation may be required to resolve the issue. Clearly identifying the necessary documents and best practices creates efficiencies and ensures a smooth experience for both you and your applicant(s).
Supporting documentation requirements
When providing supporting documentation consider the following :
All supporting documentation must be legible.
Documentation must display the borrower or co‑borrower name(s).
At least four digits of the account number on the supporting documentation must match the account number shown on the credit report.
Documentation must include the reporting entity company name or logo.
The supporting documentation date must be dated later than the last reported date on the credit report of the item being updated.
Web-based supporting documentation is acceptable as long as the URL (web address) is clearly visible on the document.
Photos of supporting documentation are acceptable, provided the documentation meets all outlined requirements.
Forwarded email copies are acceptable documentation as long as they include the creditor’s company name or logo and the creditor’s email return address.
Include the last payment date, next payment due date, balance, monthly payment amount, and payment history, when applicable.
Example: If you are requesting missing payment history to be added, your documentation must include the missing history details.
When gathering supporting documentation involving public record verification, ensure the information is complete, accurate, and verifiable. Key requirements include:
Documentation must display the borrower or co‑borrower name(s).
Documentation must be from the court reporting the information. It cannot come from an attorney or taxing authority, for example.
Matching case or docket number, with at least four identical characters to confirm the record.
Matching book and page number, when applicable.
A visible court stamp or seal to verify authenticity.
Note: Electronic versions or stamped with hand-written information are acceptable.
Date of documentation must be dated later than the last reported date on the credit report of the item being updated.
Verification process best practices
Always include a signed Borrower Authorization with your submission. Some creditors require a signed Authorization because they do not accept conference calls for verification. In addition, certain creditors will not accept electronically signed Authorizations. To avoid potential delays, consider providing only wet‑signed Authorizations whenever possible.
Notify your borrower ahead of time that a creditor conference call may be necessary to complete the supplemental order. Providing this context in advance helps mitigate any reluctance the borrower may feel during the call.
Outcome
By providing complete and accurate borrower information and documentation upfront for Merge Plus Supplement and Rapid Recheck orders, you help ensure a more efficient process and a smoother experience for your applicants.