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CoreLogic Integrates Fannie Mae LQI Suite with Ellie Mae System

""CoreLogic Credco"":http://www.credco.com, a provider of merged credit reports, recently integrated its FinalCheck suite into the ""Ellie Mae Encompass360"":http://www.elliemae.com/solutions/encompass360_overview.asp mortgage management solution.


FinalCheck is an automated ""Fannie Mae"":http://www.fanniemae.com loan quality initiative (LQI) compliance suite that assists lenders in verifying credit, application, and fraud data. The company says the technology can help lenders uncover undisclosed debt prior to loan submission and mitigate repurchase risk to avoid loan buy-backs from the GSE.

FinalCheck is the latest to join other CoreLogic products that are currently integrated in Encompass360, which include the company's Instant Merge credit report, Flood Services, LoanSafe Fraud Manager, and 4506-T Direct income verification services.


John Bauer, SVP of credit and transportation services for CoreLogic Credco, says this latest product integration significantly enhances the company's continued partnership with Ellie Mae and provides mutual customers with convenient, single-source access to advanced data solutions.

The FinalCheck suite is composed of CreditCheck, AppCheck, and FraudCheck.

CreditCheck performs a ""gap"" analysis on credit information between pre-approval and prefunding.

AppCheck searches against the CoreLogic Fraud Consortium Database, a 90 million loan application database, and the Mortgage Electronic Registration System (MERS) for undisclosed loans.

FraudCheck verifies that neither the borrower nor loan participants are on a HUD or other investor exclusionary list.

""FinalCheck plays a critical, proactive role in monitoring debt-to-income ratios and other loan risk factors that could surface just prior to loan submission,"" Bauer said. ""Generated in seconds, FinalCheck allows mortgage professionals to make fast, LQI-compliant lending decisions that help avoid loan buy-backs and increase loan delivery confidence.""

CoreLogic Credco is a subsidiary of ""CoreLogic"":http://www.corelogic.com, a California-based provider of information, analytics, and business services.

About Author: Heather Cernoch


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