Overview
Loan Quality Debt Monitoring (LQDM) is an advanced, alert-based solution that provides continuous monitoring of a borrower’s credit profile during the critical loan “quiet period” - the timeframe between the initial credit pull and the final closing. You receive real-time alerts on credit activity that could impact loan eligibility, helping you identify risk early and protect loan quality.
With just a few clicks, you can place a request to start monitoring a borrower’s credit profile and automatically detect financial changes as they happen.
Place a request to start debt monitoring
Follow these steps to to make a request to start debt monitoring on a loan in the AutomatIQ® Borrower Portal.
Visit the AutomatIQ® Borrower Portal and sign in using your credentials. You will be directed to the My Loans page.
Click Start a New Loan.
In the Loan Information section, enter your Loan Number.
Note: The Loan Number field is the only required field you need to complete from the Loan Information section.
In the Select Services for this Applicant section, select Debt Monitoring.
Complete the Applicant Information section. Required fields for this section include:
First Name
Last Name
SSN
Current Address
City
State
Zip Code
Tip: Click + Add Applicant to include an additional applicant, then complete all required fields
Click Next.
Select the monitoring level from the Select Monitoring Level dropdown menu.
Note: Available selections are High, Medium, and Low. The default monitoring level was set by your company’s System Administrator, but you may change it manually if your user permissions allow it.
Select the Monitoring Start Date using the calendar icon.
Warning: When entering the Monitoring Start Date, use the calendar icon to select the date. Manually typing a date will cause an error.
Best practice is to use the Credit Authorization Date as that is when permissible purpose was established with your borrower(s). This date will likely provide the greatest protection from undisclosed debts.
Click Next.
Review and confirm all details displayed on the Order Review screen. When everything is correct, click Submit.
Follow these steps to to make a request to start debt monitoring on a loan in Encompass® Desktop.
Before you begin, ensure the borrower’s loan file includes the following information:
Loan Number
Borrower Name(s)
Address
Social Security Number(s)
Date Credit Was Authorized (recommended)
Tip: The Credit Authorized Date fields are 4074 (Borrower) and 4077 (Co-Borrower).
Sign in to Encompass® Desktop using your credentials.
In your Pipeline, select the appropriate loan from the list.
From the Services tab in the left-hand navigation bar, select Order Additional Services.
On the My Providers tab of the Additional Services pop-up, select CoreLogic LQDM.
Click Submit.
Select the monitoring level from the Select Monitoring Level dropdown menu.
Note: Available selections are High, Medium, and Low. The default monitoring level was set by your company’s System Administrator, but you may change it manually if your user permissions allow it.
Select the borrowers you want to monitor by checking the box next to each name.
Note: All borrowers are selected by default. To exclude a borrower from debt monitoring, simply clear the checkbox next to their name.
Select the Monitoring Start Date using the calendar icon.
Warning: When entering the Monitoring Start Date, use the calendar icon to select the date. Manually typing a date will cause an error.
You should also note that you can backdate the Monitoring Start Date up to 118 days from the activation date. The default date is the borrower’s Credit Authorized Date; if none is provided, the system will use the current date.
In the Additional Notifications section, enter up to four email addresses to receive notifications.
Verify that all data populated in the Loan Information section is complete and accurate.
When everything is correct, click Submit.
Follow these steps to to make a request to start debt monitoring on a loan in Encompass® Web.
Before you begin, ensure the borrower’s loan file includes the following information:
Loan Number
Borrower Name(s)
Address
Social Security Number(s)
Date Credit Was Authorized (recommended)
Tip: The Credit Authorized Date fields are 4074 (Borrower) and 4077 (Co-Borrower).
Sign in to Encompass® Web using your credentials.
From your Pipeline, select the appropriate loan from the list.
In the left navigation bar, select Services, then choose All Services from the drop-down menu.
On the All Services page, click Order Service.
In the Order Service pop-up, select Additional Services, then choose CoreLogic LQDM.
Click Next.
Select the monitoring level from the Select Monitoring Level dropdown menu.
Note: Available selections are High, Medium, and Low. The default monitoring level was set by your company’s System Administrator, but you may change it manually if your user permissions allow it.
Select the borrowers you want to monitor by checking the box next to each name.
Note: All borrowers are selected by default. To exclude a borrower from debt monitoring, simply clear the checkbox next to their name.
Select the Monitoring Start Date using the calendar icon.
Warning: When entering the Monitoring Start Date, use the calendar icon to select the date. Manually typing a date will cause an error.
You should also note that you can backdate the Monitoring Start Date up to 118 days from the activation date. The default date is the borrower’s Credit Authorized Date; if none is provided, the system will use the current date.
In the Additional Notifications section, enter up to four email addresses to receive notifications.
Verify that all data populated in the Loan Information section is complete and accurate.
When everything is correct, click Submit.
Email notifications
Now that debt monitoring is active, you may receive email notifications based on your organization’s setup. These notifications can include alerts, errors, and expiration reminders, helping you stay informed throughout the monitoring period.
Type | Description |
|---|---|
Alert Emails | The email contact on the order receives notifications when a borrower triggers a monitoring alert. These emails may include the loan number and alert type (for example, inquiry or tradeline). |
Error Emails | If a bureau rejects a monitoring request, the email contact used during activation receives an error notification. The message may include the borrower name, bureau, error details, and the last four digits of the loan number. After resolving the issue, submit a new monitoring order. |
Expiration Emails | The email contact receives a notification when monitoring is within 10 days of expiration. Monitoring ends 120 days after the start date. To continue monitoring, submit a new order using the expiration date as the new start date. Submitting a new order before expiration will result in a duplicate request error. |
Outcome
You can place a request to start debt monitoring a borrower’s credit profile to automatically detect financial changes. This allows you to identify potential risk early, maintain loan quality, and receive alerts about credit activity that could impact your borrower’s ability to qualify for a loan.