New 3-Bureau UDM Coming Soon:
What Your Clients Need to Reduce Risk
Your clients may think that a single-bureau UDM is good enough to enable prior to closing. They might think the bureaus update their consumer data at the same time, so if they have a single bureau UDM running, any new debt will be reported.
You know this not to be the case.
You know that the bureaus operate differently, have different schedules for updating consumer data, and possibly have different data on file at any given time (hence the need for a 3-bureau merge and the Preferred Bureau feature you have setup).
Your clients are running a risk if they are only utilizing a single bureau UDM from you.
The new 3-bureau UDM, available soon in XpertOnline, ensures that all borrowers are monitored, and all undisclosed debt is identified prior to closing, virtually eliminating new debt surprises at the closing table and throwing off DTI.
The 3-bureau UDM is available with the single click of a button, and will return a single output that combines all 3 bureau monitoring alerts as the bureaus report them.
Give your clients additional peace of mind when offering UDM. Let them know about the 3-bureau UDM offering today.
What You Can Do Today
In advance of the upcoming XpertOnline release that includes the 3-bureau UDM, make sure you are setup at each of the bureaus to offer their UDM service. For the UDMs you aren’t offering, reach out to your bureau reps and ask to start offering their UDM service. XpertOnline offers connections to all 3 bureau UDM services today:
- Equifax Undisclosed Debt Monitoring
- TransUnion Pre-Closing Mortgage Notification (PCMN)
- Experian Mortgage Watch