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

Certified Credit releases their latest solution, Cascade Undisclosed Debt Monitoring (UDM), which helps lenders reduce the risk of costly fallouts by automating monitoring borrowers’ credit.

/EIN News/ -- Los Angeles, CA, June 29, 2022 (GLOBE NEWSWIRE) -- 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:

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

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.

In addition to Certified Credit’s Cascade solutions, the company is a full service, credit partner that offers a wide range of tools to help lenders improve their customer relationships, grow their businesses, adhere to regulatory requirements, and lower their costs. To learn more about Certified Credit’s products and services, call 1-800-769-7615 or visit www.certifiedcredit.com.

Media Contact: Certified Credit  1-800-769-7615

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