Compliance Concierge Interfaces

Factual Data provides web-based credit reporting services using Experian, TransUnion, and Equifax reporting agencies. They can provide a credit report in an easy-to-read format that contains reports from one or all three credit bureaus. Factual Data can also return a FICO score and an OFAC check with each bureau. Once the Factual Data report is received, the liability information is extracted from the report and populates the liability screen in Compliance Concierge™  Loans and Mortgage. It also interfaces with the deposit module.

A Flood Certification Module is also available and interfaces with the Compliance Concierge™  Loan and Mortgage products. For additional information and pricing on the flood module, please contact FIPCO Customer Service at 1-800-722-3498 option 5 or send your request to FIPCO Sales.

Factual Data® is an innovative technology solution that allows financial institutions to quickly evaluate the credit-worthiness of potential borrowers. Marketed through Financial Institution Products Corporation® (FIPCO), Factual Data presents a clear, concise credit report delivered online in seconds.

Factual Data provides web-based credit reporting services using three major credit reporting agencies, with clients selecting one-, two- or three-bureau merged reports from Experian, TransUnion and/or Equifax. The information is accessed, processed and returned in seconds to generate a complete and easy-to-read credit report to your PC. Factual Data’s comprehensive report offers easy-to-understand information that ensures no lost time deciphering data. And with 32 different report summary options available, it can be customized to fit the way you process loans. FICO credit scores, bankruptcy scores and fraud search products are also available.

The report design flexibility and the sorting options available within various report sections allow users to easily find the exact information they seek. These report format options can be modified to meet the needs of each branch location, each department, or each operator/user. You may also choose to select a standard report format to be used throughout your organization. Because Factual Data knows that time is of the essence, data verification requests are completed and returned to you in four business hours or they’re provided at no charge.

For additional flexibility, a financial institution can select from two credit reporting options: Bureau ExpressSM and TruSelect. Bureau Express utilizes Factual Data directly for credit reporting services, while Factual Data’s TruSelect provides a complete credit report, while allowing the institution to maintain their current credit reporting agency relationship and repository codes. Both options offer the utmost in reliability and accuracy.

With the Factual Data interface to Compliance Concierge™  software, the reporting process is even easier. Integration of Factual Data allows Compliance Concierge™ users to request Factual Data credit reports while completing the loan application. The Factual Data information is sent directly into the Compliance Concierge™  system and automatically populates the appropriate fields.

Factual Data leads the industry in analyzing information and delivering it over the Internet with the speed, reliability, accuracy and customization that customers require. Founded in 1985, the company provides the industry with credit products to assist in the underwriting of first mortgage loans, and delivers more than 100,000 credit files a day to over 25,000 customers. As one of the few credit reporting agencies nationwide whose credit reports are available through the automated underwriting systems of both Fannie Mae and Freddie Mac, Factual Data has built a reputation for providing reports that are accurate and free of duplication.

For more information about Factual Data, contact the FIPCO Customer Service Department at 800-722-3498 option 5, or send your request via e-mail to FIPCO Sales.