Emerging Markets
Over the next decade, a projected 60% of first-time home purchases in the United States will be made by those who fall into traditionally underserved markets. Many of these consumers have little or no traditional credit, but are credit worthy.
Now with Anthem, First American CREDCO's suite of alternative credit services, you can originate any non-traditional loan and help more homebuyers fulfill the American dream. Our Anthem Suite allows you to quilify and write A-Paper loans on people with little to no traditional credit history.
Anthem Suite of Services:
Instant Merge: Always the First Step
Instant Merge is the most popular and widely available 3-bureau merged credit report across all industries. An Instant Merge report is always the first step in the Anthem process.
Rapid ReCheck: Bureau Level Updates
Rapid ReCheck provides, fast bureau level updates of incorrect or out-dated credit information in as little as 72 hours.
Anthem Report: The Industry Standard for Non-Traditional Credit Information
When you order an Instant Merge credit report on a borrower that has a thin or no credit file, the Anthem Report supplements any available bureau data with alternative credit sources such as rent and utilities payments. The result is a credit report that meets or exceeds secondary market requirements. The Anthem Report is fully compliant with FHA underwriting standards for non-traditional credit.
Anthem Score: Non-Traditional Credit Score
The Anthem Score is designed to simplify the underwriting process for credit grantors working with borrowers with little or no credit history. Utilizing the type of payment, length of payment history and verification methods used to create the Anthem Report, a predictive underwriting score ranging from 325 to 850 is generated.
Anthem Performance: Databasing and Analysis of Non-Traditional Credit Data
Anthem Performance collects non-traditional credit data to create a database that can be used to assist your business in the areas of applicant underwriting, risk management, and business intelligence.
Advisory for Anthem: Non-Traditional Credit Notification
Anthem Advisory proactively notifies your business when a consumer does not have a credit file with sufficient data to accurately assess his or her creditworthiness. It reduces the time it takes to process and administer loans for consumers with little or no credit history.
Market Opportunity Report
The Market Opportunity is a monthy subscription-based service that analyzes your loan production volume, identifying additional business you could be getting from thin or no-file consumers.
Consumer Assistance: a helping hand
With Consumer Assistance, our FCRA-certified specialists work with the consumer to explain issues related to their credit report, and can recommend strategies for establishing and improving their credit history.
Consumer Disputes: 'one call' resolution
First American specialists act as the consumer's single contact point, working hand-in-hand to resolve any discrepancies on their credit profile with the national credit bureaus.
