Data Solutions

SettlementOne provides mortgage risk data solutions that include credit reports, flood certifications, Social Security Number (SSN) verifications, and income tax verifications for U.S. banks, mortgage lenders, mortgage brokers and credit unions during the residential loan application process.

  • Credit reporting – Assessing a borrower’s credit worthiness is built on quick and accurate data analysis from all three bureaus – Experian,TransUnion and Equifax.. SettlementOne’s credit report solutions provide easy to read report formats that go well beyond the FICO scores alone to present in understandable sections, all elements of credit history and use.
  • Flood certification – Everyone in the US lives in a flood zone. It’s just a matter of whether they reside in a low, moderate, or high-risk area. So the purchase of flood insurance is mandatory for all residential mortgages. SettlementOne assesses the risk and verifies a property’s flood status based on the data of the current Flood Insurance Rate Map.
  • SSN Verification – Along with the wide adoption of online transactions has come a rise in identity theft and fraud. SettlementOne provides consent-based, Social Security Number Verification required by mortgage banks, lenders, and brokers during the loan origination process. It’s stringent methods cross checks and verifies each consumer. A variety of options are available based upon the lender’s specifications.
  • Income Tax Verification -Never before have lenders been so careful in underwriting and verifying current income and past earnings history. The best way to accurately assess networth is through IRS, W-2, and/or 1099 filed transcripts. With the consent of the taxpayer, SettlementOne’s Income Verification solution confirms the income of a borrower during the processing of a mortgage loan application. Problem averted.