Once again, ReverseVision has expanded the credit reporting functions within its RV Exchange system, this time with the integration of CIS credit.
Based in Allamuchy, N.J., CIS is a national consumer credit reporting agency that provides credit repots from the three national trade bureaus: Experian, Equifax and TransUnion.
The integration with ReverseVision’s RV Exchange platform aims to provide banks, investors, brokers and lenders greater efficiency and expanded options in qualifying reverse mortgage loan applicants.
“With the increased due diligence required for Financial Assessment under the Home Equity Conversion Mortgage program, reverse mortgage originators need access to the same information used in underwriting traditional mortgages, a market CIS has been national leader in for 30 years,” said CIS Chief Executive Officer Nancy Fedich in a written statement. “The CIS integration with ReverseVision adds efficiency to the underwriting process which ultimately results in a better customer experience and more successful closings.”
CIS credit is available to all RV Exchange users who set up a CIS account. Existing CIS clients can choose CIS Information Services in the credit service provider list in RV Exchange, with no further setup requirements.
The integration with CIS is the latest credit reporting expansion ReverseVision has made to RV Exchange. In August, the company added the services of Columbus, Ohio-based CBCInnovis, a provider of credit and risk management solutions, to be available for RV Exchange users.
In June, ReverseVision added then-new credit report functions to RV Exchange, allowing users to pull from borrowers’ credit reports from several credit report providers.
Written by Jason Oliva