Certified Credit Releases Latest Automation Solution, Cascade Undisclosed Debt Monitoring (UDM)

With nearly 40 years ofexperience in the credit industry, Certified Credit understands theobstacles that modern mortgage lenders face. To combat thesechallenges, Certified Credit has created a suite of automatedsolutions, including their latest release, Cascade UDM.

Cascade UDM addresses theissue of last-minute fallouts due to unexpected changes in borrowers’credit activity, while helping lenders meet secondary market loanquality standards. From the first credit pull to closing, CascadeUDM helps lenders monitor their borrowers’ credit activitycontinuously for new inquiries and balances that have the potentialto derail the loan process.

According to Founder and CEOof Certified Credit, Lucy Kereta-Block, “In today’s mortgagemarket, lenders are always looking for ways to streamline theirunderwriting process. Reducing mortgage fraud is also a top concern.Without continuous credit monitoring until closing, lenders’fallout and repurchase risk can go up. That’s where Cascade UDM canhelp.”

Using advanced automation,Cascade UDM monitors borrowers’ credit activity as they movethrough lenders’ sales pipelines. It integrates seamlessly withmany popular loan origination software (LOS) systems, enhancingconvenience for lenders. By using Cascade UDM, lenders can receivedaily insights and instant alerts via text/SMS, email, or throughtAPI regarding their borrowers’ activity, including:

• New tradelines
• New credit inquiries
• Late payments
• Increases indebt-to-income ratios
• Increases in payments
• Collection items

With these timely alerts,lenders can reevaluate borrowers with sudden credit changes rightaway, rather than finding out right before closing. In turn, they canprevent expensive repurchase demands and costly closing issues.Cascade UDM can also enhance LQI compliance, enabling lenders to meetsecondary market loan quality standards with greater ease.

According to Lucy Kereta-Block, “Themortgage lending process requires continuous monitoring. Most lendersdon’t have time to do that on their own. Cascade UDM automates thisotherwise tedious process, freeing up lenders’ time to focus onother areas of their business that contribute to on-going success.”

Cascade UDM is just one of CertifiedCredit’s many automated solutions. Their Cascade line alsoincludes:

• Cascade Alerts – Lowcustomer retention is a big problem in the mortgage industry.Cascade Alerts helps lenders enhance their customer retention andtap into their existing customer base to find new leads. Bymonitoring existing clients’ credit activity, Cascade Alerts canlet lenders know when their past and present clients are in themarket for new mortgages, giving them a chance to vie for theirrepeat business.
  
  
• Cascade Verification of Incomeand Employment (VOE) – Making sure applicants have the incomeand employment history they claim is a crucial, yet cumbersome, partof the mortgage lending process. Cascade VOE makes it simplerthrough automation. By streamlining the ordering process, CascadeVOE helps lenders complete verifications faster and moreaffordably.
  
• Cascade Prequal – Lendersthat offer prequalification cast a wider net for potential leads.Prequalification also helps aspiring homeowners understand theircreditworthiness without harming their credit scores. With

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