Instant Merge: The Premier Credit Reporting Solution
Instant Merge is the mortgage industry’s leading merged credit reporting solution, seamlessly integrated with Encompass. Using advanced merge logic, it consolidates data from all three major credit bureaus to provide clear, consistent tradelines and balances.
Use Cases
Loan Pre-qualification:
Instant Merge enables lenders to quickly generate pre-qualification credit reports, offering an early snapshot of the borrower's credit profile before the full application process.
Loan Pre-Approval:
Building on pre-qualification, the pre-approval process delivers an in-depth assessment of the borrower’s financial health, including credit, income, and assets, providing greater assurance of loan viability.
Home Equity:
A variation of the Instant Merge report designed for Home Equity transactions.
Credit Review and Analysis:
With upgrades and add-ons, Instant Merge can further assist in the in-depth review and analysis of a borrower's creditworthiness.
Risk Assessment:
By consolidating data from all three bureaus, Instant Merge helps lenders evaluate applicants’ risk profiles and make well-informed lending decisions.
The Importance of a Three-Bureau Merged Credit Report
The speed and accuracy of credit reporting play a critical role in the mortgage origination process. Instant Merge enhances Encompass workflows by providing:
Accuracy: Reliable tri-bureau reports improve credit decision accuracy.
Risk Reduction: Reduce the risk of mortgage defaults by thoroughly vetting credit histories.
Efficiency: Streamlined credit assessments save time for both lenders and borrowers.
For more information, visit CoreLogic.com
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