Credit Manual.indd - MortgageDashboard

MortgageDashboard
Credit Manual
Copyright ©
MortgageDashboard™. 9390
Research Blvd. Kaliedo II Suite
440 Austin, TX 78759. You
may reach Technical Support
toll-free by calling 866-3643548. All rights reserved. This
manual may not be reproduced
in any way, in whole or in part,
without written permission from
MortgageDashboard™.
MortgageDashboard™.
makes no representations or
warranties with respect to this
manual and will not guarantee
the accuracy and completeness
of any information. Users
™
of this manual do so with
the understanding that
MortgageDashboard™ is
not engaged in the practice
of law and does not render
legal, accounting or other
professional services.
MortgageDashboard™
reserves the right to change
this manual without notice.
MortgageDashboard™ is a
registered trademark. All other
brands and product names are
trademarks of their respective
holders.
Credit Vendors:
Vendor Accounts
To use many vendors in MortgageDashboard™,
you must first set up your vendor accounts.
Begin by pressing
on the left
side of the page in Settings. Select the tab that
corresponds to the type of vendor you need to
set up (credit, underwriting, appraisals etc.).
To enter your vendor information, select the
name of the vendor, fill out the corresponding
fields and press
. Please note that
the required vendor information depends
on what is required by the vendor, not
MortgageDashboard™.
Please see the BundleOne™ section in this
manual for more info.
Requesting a Vendor
If you would like to request that an additional
vendor, one not currently supported in
MortgageDashboard™, be integrated, press
Request a New Vendor in the top right of the
Vendor Accounts page.
In the new pop-up window, carefully fill out
the vendor request information, and press
.
Once you have submitted a vendor request,
it will be sent to the Business Solutions
department, which will contact your vendor.
The vendor will then complete the required
setup agreement and will be integrated into
MortgageDashboard™. Please be patient, as
this process will take some development time to
complete.
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Credit Vendors:
How to pull credit
1. Click
screen.
at the top of the
2.
Click on the borrower’s name.
3.
Under the 1003 tab on the left of the page, select
.
4. From the drop-down box, select the credit type you
wish to run for the borrower.
5.
Click
.
Prelim exp + equ + tru w scores is a commonly
selected type of credit pull. This is a tri-merge.
Please note: If you are re-pulling credit, the system will
ask you if you would like to overwrite existing liabilities.
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Credit Center:
Using the Credit Center
When pulling credit, if Invalid username or password OR Operation timed-out appears:
• Check to make sure you are set up to pull credit.
• Make sure the address is in a conventional format (e.g. 123 Main St.). Sometimes non-conventional
addresses (e.g. 123 Rural Route 53) are not accepted by the credit agency.
• Contact the credit company to make sure your account with them is active and verify that their servers
are up.
Any error that appears below the drop-down represents a problem with your account through the credit
provider, not through MortgageDashboard™.
Under View Credit Reports, all of your reports are listed with the name of the vendor, the date it was
ordered and the reference ID.
Use the Load Report link under Actions to load the report. Select the
report. To send the report to e-Briefcase, select the
icon to view and print the
icon. To e-mail the report, select the
icon.
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Using the Credit Center
At the bottom of the Credit Center page, you will see information about the two companies available
through MortgageDashboard™ to provide credit repair services.
Mortgage Action Plan (formerly known as Deal Maker) allows you to purchase a plan to help your
borrower raise his or her credit scores quickly, while Credit Source One offers long-term credit repair
and works directly with your borrower. Please see the following Credit Source One section for more
information.
Test Borrower
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Credit Center:
Credit Source One
Credit Source One presents a free tool to analyze your potential borrower’s credit situation. This free tool will
tell your potential borrower what is adversely affecting his or her credit score and what can be done to help.
Start by entering your borrower’s goal FICO score. It is set to 720 by default.
You can also enter your information and select whether or not you want Credit Source One to contact you.
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Credit Center:
Credit Source One
Next, you are presented with a screen that outlines Credit Source One’s credit repair services.
Select
to view the free report.
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Credit Center:
Credit Source One
The following sections will go through your free report, page by page.
You can either e-mail or print the report to send to your borrower. Note: Credit Source One will not
contact your borrower without your permission.
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Credit Center:
Credit Source One
First, Credit Source One will briefly overview the borrower’s goals. If there is a co-borrower, his or her
information will be displayed also.
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Credit Center:
Credit Source One
Next, Credt Soure One overviews what makes up a credit score and give some advice about how to
positively affect a credit score.
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Credit Center:
Credit Source One
The next page covers how a low credit score can hurt you. On the right, an amortizer shows average 30year mortgage rates for various FICO scores.
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Credit Center:
Credit Source One
Finally, Credit Source One goes over the borrower’s credit report. It breaks down what is hurting his or
her score the most in an easy-to-understand graphical format.
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