Ordering Credit

Services > Order Credit (credit vendor)

MortgagebotLOS is fully integrated with all credit vendors approved by Fannie Mae and Freddie Mac.

 

Successfully ordered credit reports will automatically populate the borrower’s median credit score on the Scenario Pricer, Lock, and Register Loan screens. The median credit score will also populate on the U/W Conditions/Decision screen once the loan has been locked in the LOS.

 

Tip: Credit report formats vary per vendor. These credit reports are from the agency and integrated into the LOS and are not created by D+H.

 

Follow the steps below to order or reissue credit from the credit vendor.

The first field on this screen is “Copy Liabilities to 1003”. If this box is marked, a successful Credit Bureau Report (CBR) will copy the liabilities from the credit report to the 1003 > Liabilities tab. If this box is unmarked no liabilities will copy to the 1003 > Liabilities tab.

 

Tip: When reissuing credit, be sure to unmark Copy Liabilities to 1003. If this box is marked when reissuing, liabilities will duplicate.

 

The Borrower Name displays in a grey grid and will default the check box next to each borrower as marked underneath the Select column. Borrower/co-borrower pairings will not have the ability to pull credit individually. If more than one borrower exists on an application and separate credit reports are desired, the applicant relationships must be entered on 1003 > Borrower tab as borrower/borrower rather than borrower/co-borrower. This will create a separate grid for each borrower on the Order Credit screen.

 

Choose the Credit Type (Merged or Single Repository) to be ordered or reissued.

 

To reissue credit, mark the box under Reissue. This will open a new, editable field to input the Reference Number. If credit was previously pulled on this application through the LOS, the Reference Number will auto-populate.

 

Tip: Credit pulled in MortgagebotPOS or outside of the LOS can be reissued by checking Reissue and entering the Reference Number.

 

Select the credit agency from which the report will be ordered. Agencies that appear here are dependent on settings within the Admin Site. Enter the Account Number and Password. Mark the Remember Password for Login Session check box to retain the data for all future credit submissions on all loan files while currently logged into the LOS. (Once a user logs out, the data will need to be reentered.)

 

Click Submit to request the credit report.

 

Click Cancel to disregard the changes made to the screen and return the display to the Loan Dashboard.

 

Once the report has been ordered, a spinning icon will appear beside Services > Order Credit – Avantus to indicate the report has not yet been received. Once the report has successfully been received, a view icon (paper with magnifying glass) will appear allowing users to view the credit report. View the findings by selecting the view icon.

 

Tip: Press F5 on keyboard to refresh screen if view icon does not automatically display within 4-6 seconds.

 

If a credit report has previously been ordered within the LOS, information including the Applicant(s) name, Report view hyperlink, Order Date, Credit Type, and whether Liabilities have been copied or not will appear at the top of the screen. If liabilities were copied, the column data will display Done under Liabilities Copied. If liabilities were not copied on the initial pull, a Copy button will appear instead. Click the Copy button to populate the liabilities from the report into the 1003 > Liabilities tab. The Liabilities Copied column will now display Done to validate the transmittal of data to the 1003.