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

Brand Story
30 Jun 2022, 09:55 GMT+10

With nearly 40 years of

experience in the credit industry, Certified Credit understands the

obstacles that modern mortgage lenders face. To combat these

challenges, Certified Credit has created a suite of automated

solutions, including their latest release, Cascade UDM.

Cascade UDM addresses the

issue of last-minute fallouts due to unexpected changes in borrowers'

credit activity, while helping lenders meet secondary market loan

quality standards. From the first credit pull to closing, Cascade

UDM helps lenders monitor their borrowers' credit activity

continuously for new inquiries and balances that have the potential

to derail the loan process.

According to Founder and CEO

of Certified Credit, Lucy Kereta-Block, "In today's mortgage

market, lenders are always looking for ways to streamline their

underwriting 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 can

help."

Using advanced automation,

Cascade UDM monitors borrowers' credit activity as they move

through lenders' sales pipelines. It integrates seamlessly with

many popular loan origination software (LOS) systems, enhancing

convenience for lenders. By using Cascade UDM, lenders can receive

daily insights and instant alerts via text/SMS, email, or throught

API regarding their borrowers' activity, including:

With these timely alerts,

lenders can reevaluate borrowers with sudden credit changes right

away, rather than finding out right before closing. In turn, they can

prevent expensive repurchase demands and costly closing issues.

Cascade UDM can also enhance LQI compliance, enabling lenders to meet

secondary market loan quality standards with greater ease.

According to Lucy Kereta-Block, "The

mortgage lending process requires continuous monitoring. Most lenders

don't have time to do that on their own. Cascade UDM automates this

otherwise tedious process, freeing up lenders' time to focus on

other areas of their business that contribute to on-going success."

Cascade UDM is just one of Certified

Credit's many automated solutions. Their Cascade line also

includes:

Cascade Alerts - Low
customer retention is a big problem in the mortgage industry.
Cascade Alerts helps lenders enhance their customer retention and
tap into their existing customer base to find new leads. By
monitoring existing clients' credit activity, Cascade Alerts can
let lenders know when their past and present clients are in the
market for new mortgages, giving them a chance to vie for their
repeat business.
Cascade Verification of Income
and Employment (VOE) - Making sure applicants have the income
and employment history they claim is a crucial, yet cumbersome, part
of the mortgage lending process. Cascade VOE makes it simpler
through automation. By streamlining the ordering process, Cascade
VOE helps lenders complete verifications faster and more
affordably.
Cascade Prequal - Lenders
that offer prequalification cast a wider net for potential leads.
Prequalification also helps aspiring homeowners understand their
creditworthiness without harming their credit scores. With Cascade
Prequal, lenders can offer prequalification on their website and
share automated responses with their applicants, expanding their
sales pipelines throughout the process.