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Non Traditional Credit: Expanding Opportunities, Minimizing Risk |
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First American strongly believes that every American deserves the right to achieve the dream of homeownership, and that more should be done to remove barriers and open the doors to increase homeownership for minority and low-to-moderate-income families.
We have developed a groundbreaking Strategic Markets program, which includes reduced-cost settlement services for eligible families and the development of alternative credit products. NTservice was designed as a part of this program to help expand the availability of A-grade mortgage financing to loan applicants with little or no traditional credit history.
NTservice, an innovative solution from First American, can save your business time and money by alleviating the often labor-intensive process of gathering and validating non-traditional credit information. This service is designed to document the creditworthiness of any consumer without an established credit file or FICO score.
By providing a standardized set of solutions that meet or exceed secondary market standards, our NTservice helps eliminate approval obstacles and ensure that your business is obtaining maximum efficiency while effectively managing risk.
Instant Merge: always the first step
Instant Merge provides the most comprehensive data available on your borrower in one easy-to-use report.
Verification Services: validating existing data
For a borrower with a limited credit history, it is essential to make sure the information you have is up-to-date. Verification Services can verify and update items such as duplicate tradelines and accounts with severe delinquencies.
Rapid ReCheck: bureau level updates
First American can help correct outdated information in the borrower's credit file. Once we complete the update, we will re-pull the credit report, which often results in an improved credit score.
NTreport: a standardized and accepted option
When you order an Instant Merge credit report on a borrower that has a thin or no credit file, NTservice 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.
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. |
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More Information |
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To learn more about NTservice or First American's Strategic Markets Program,
please call 1-800-255-0792, extension #1, or e-mail credco@firstam.com.
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Affordable Homeownership Settlement Bundle