Instant Merge Credit Report
Instant Merge® is the most widely available and accepted merged credit reporting solution in the mortgage industry. Combining credit data from one, two, or all three national credit bureaus into a convenient single report in a common format, it’s an ideal fit for most lending situations.
PreQual Credit Report
PreQual provides credit pre-qualification services to your clients through a soft-inquiry credit pull with a FICO score. Leveraging single-source access to all three national credit bureaus, you can now easily perform an initial, non-decisionable credit check without negatively impacting a consumer’s credit score. Once you obtain permissible purpose consent from your clients, Instant Merge PreQual will provide the information to help consumers better understand their credit standing and the loan options for which they may qualify.
PreApproval Credit Report
PreApproval is an ideal way to provide credit pre-approval services to your clients. By leveraging a single source to access all three national credit bureaus, you can use a soft inquiry Instant Merge PreApproval Credit report to determine a borrower’s eligibility without negatively impacting their consumer credit score. Using “Extension of credit” as a permissible purpose for Instant Merge PreApproval allows you to utilize existing origination workflows established for hard inquiry, eliminating the need to create a new consumer consent workflow.
Home Equity Credit Report
The Home Equity Credit Report helps qualify borrowers for Home Equity loans or a Home Equity Line of Credit (HELOC) by accessing all three national credit bureaus in one place. This tool assesses borrower eligibility against bureau products based on the needs of private investors, a methodology distinct from that of mortgage origination credit reports.
Note: Home Equity Credit Report is only available to order through Encompass Credco Integration.
LQ GAP (Credit Refresh) Report
LQ GAP is a fully automated “gap” solution that provides an at-a-glance comparison of the original credit report and the refreshed credit report. It includes visual representations of any material changes and a percentage calculation. Ordered before closing, this “refresh” provides separate sections that make it easy to identify new liabilities, inquiries, and public records.
Note: LQ GAP can only be requested with previously ordered Instant Merge report.
Merge Plus Supplement Report
Merge Plus Supplement is an add-on report that gives extra detail on flagged credit items. It helps verify mortgage balances, update or remove accounts, and confirm bankruptcies or other negative items. Users can review unlimited items from the credit report for greater accuracy.
Note: Merge Plus Supplement can only be requested with previously ordered Instant Merge report.
Rapid ReCheck
Rapid ReCheck is an order upgrade that offers quick, permanent updates to national repository records along with a refreshed FICO score. Typically, revised reports and scores can be accessed within three to five business days.
Note: Rapid ReCheck is only available to order through Credco.com.
Anthem Report® (Non-Traditional) Reports
Anthem's report enhances any bureau information by incorporating alternative credit data, including rental payments, utility expenses, and phone charges.
Note: Anthem’s report is only available to order through Credco.com.