Santa Ana, Calif.-based CoreLogic Credco has introduced FinalCheck, an automated suite of pre-funding risk evaluation products that instantly verify credit, application and fraud data in a user-friendly report. According to the company, FinalCheck is designed to help lenders satisfy government-sponsored-enterprise requirements, reduce repurchase risk and increase loan delivery confidence.
The FinalCheck suite consists of three critical data verification products: CreditCheck, which performs a "gap" analysis on credit information between pre-approval and prefunding; AppCheck, which searches against proprietary CoreLogic loan application databases and the Mortgage Electronic Registration System for undisclosed loans; and FraudCheck, which verifies that neither the borrower nor loan participants are on a Department of Housing and Urban Development or other investor exclusionary list.
SOURCE: CoreLogic Credco
