ONLINE Mortgage Credit Reports
ONLINE Mortgage Reports is the mortgage industry's premier credit-reporting firm. ONLINE provides you with the easiest to read credit reports, the newest technology, access to all automated underwriting services and the best customer service in the mortgage credit reporting arena. All of this provided to you safely and securely over the Internet. ONLINE does not charge monthly membership fees or monthly minimums so you only pay for the reports you pull.

Easy to Read Format:
ONLINE Mortgage Reports delivers the easiest to read credit report in the industry. You no longer have to try to decipher what an entry means. ONLINE's software also uses the state of the art de-duping logic, which means there are fewer duplicates of tradelines to weed through on a merged credit report. We give you the ability to quickly make the right lending decision every time.

Technology:
ONLINE’s services are web-based which eliminates recurring software issues. ONLINE interfaces with common Loan Origination Software packages to allow the seamless import and export of 1003 application data and credit information. You can pull credit directly from within your LOS and have the credit and scores import directly into your 1003.  This saves you the time of manually inputting the returned tradeline information.

Automated Underwriting:
In today's fast paced mortgage industry, streamlined loans are more and more common.  ONLINE meets this demand by providing our customers with reissue capabilities to Fannie Mae, Freddie Mac and a host of other automated underwriting services. This allows you to pull one credit report and send it to multiple lenders saving you time and money.

Customer Service:
ONLINE's customer service staff has over 40 years of combined experience in the credit reporting industry. That means you will always have access to an experienced service representative by phone, fax, or email. You let us do the legwork so you can concentrate on closing more loans.

How Do Lenders Benefit Most from the Mortgage Loan Report?

Many lenders are taking advantage of the speed and cost savings available today with ONLINE’s Mortgage Loan Report product for Equity lines of credit and Refinances. You too can benefit! Review the information here to see how you can increase your competitive edge while saving considerable time and money on closing costs.

Mortgage Loan Report – Brief Description

The Mortgage Loan Report (MLR) is a credit-based report used for Home Equity, Refinances, and Secondary mortgage loans. This unique ONLINE Mortgage Report product gives the lender a view
of the borrower’s secured mortgage liens as well as any reported judgments and public record information. The first part of the report is  generated from credit data, and the remainder of the report includes a borrower lien affidavit form that is to be completed by the borrower either prior to or at closing. The completed MLR returns to the lender in 30 seconds, giving the lender the ability to quickly make an underwriting decision on the loan.
 

 
Mortgage Loan Report Product Features

• Report delivered in 30 seconds
  for quick underwriting decision
   
• Gap covered between report
  date and recordation
   
• Protection from fraud
   
• Life of loan and transferable
   
• Simple claims process for
  reported errors or omissions
  resulting in lender loss
   
• Claim settlement within 30 days
   
• Available in all 50 states
   
• Equity loans can be in any
  position including first
   
• Foreclosure not required if
  commercially uneconomical
  to foreclose
   
• Includes filed tax liens

How Do Lenders Benefit Most from the Property Plus Report?

Many lenders are taking advantage of the speed and cost savings available today with ONLINE Mortgage Reports’ Property Plus Report product for Refinances and Equity lines of credit. You too can benefit! Review the information here to see how you can increase your competitive edge while saving considerable time and money on closing costs.

Property Plus Report – Brief Description

The Property Plus Report provides the traditional E&O (PropertyReport)
report that includes the current owner of the property, how the property was conveyed to the current owner, open mortgages, liens, judgments, tax information, and a complete legal description.Additionally, through an executed Property Plus Service Agreement, the lender transfers the underwriting risk to EPN Solutions, LLC where it is backed with an  enhanced Errors and Omissions policy.

EPN Solutions, LLC. maintains an enhanced Errors & Omissions policy that is “occurrence based”  with no deductible and no aggregate limits from Markel Insurance Co.
 

 
Property Plus Report Product Features

• Speed and cost savings over
  traditional products
   
• Gap covered between report
  date and recordation
   
• Protection from fraud
   
• Life of loan and transferable
   
• Simple claims process for
  reported errors or omissions
  resulting in lender loss
   
• Claim settlement within 30 days
   
• Available in all 50 states
   
• Equity loans can be in any
  position including first
   
• Foreclosure not required if
  commercially uneconomical
  to foreclose
   
• Includes filed tax liens

Appraisals
ONLINE Mortgage Reports offers a variety of qualified local and national appraisal vendors for your centralized loans. Featured appraisal vendors include:

• ACRAnet Lendserv
• Nationwide Appraisal

We also offer you the ability to add your favorite local vendor to our platform and automate your current appraisal process.

Underwriting
You can access a quality underwriting vendor to complete the loan process with ONLINE:

• Fannie Mae:
  • Desktop Underwriter (DU ™)
  • Desktop Originator (DO ™)

Compliance
You can access a quality Compliance vendor to complete the loan process with ONLINE Mortgage Reports:

• USDS/PCi Wiz

Closing Services
ONLINE offers a variety of quality local and national closing vendors for your loan bundles. Featured closing services vendors include:

• American Title
• National Real Estate Information Services
• Nationwide Closing Services

A variety of additional and local closing services vendors now available - ask us for information about service providers in your area!

Signing Services
You can access quality Signing Services vendors to help complete the loan process with ONLINE.

• DAC Signing Services

Document Preparation
You can access quality Doc Prep vendors to complete the loan process with ONLINE.

• Guardian

Additional vendors are in the process of being added to the ONLINE Mortgage Reports Platform.

Flood
ONLINE Mortgage Reports offers a variety of quality Flood vendors for your centralized loans.  Featured vendors include:

• Federal Flood
• First American Flood
• First Lenders Data, Inc.
• Geologix
• LSI Flood Services
       (a Fidelity National Financial Company)
• Factual Data Flood
       (formerly National Flood Research)
• Nationwide TotalFlood Services, Inc.
• U.S. Determination Services (USDS/PCi Flood Wiz)

How Do Lenders Benefit Most from the AVM Plus?

An increasing number of lenders are using AVMs (Automated Valuation Models) to get unbiased subject property valuations. The AVM Plus report allows lenders to enjoy the speed and accuracy of an AVM and manage the risk.

AVM Plus – Brief Description

As you know, determining the collateral value of the subject property is a key component of the mortgage loan underwriting process. The accuracy of  the valuation is essential for the lender to properly assess the collateral
property pledged as security for the mortgage loan, and for determining the Loan-to-Value and Cumulative Loan-to-Value ratio. Inaccurate valuations can cause lenders to lose alarming amounts of both investment money and time.

The Automated Valuation Model (AVM) is a technology-driven product developed to provide unbiased residential property valuations in a cost efficient and timely manner. The AVM Plus takes the speed and economy of the AVM a step further: it includes a warranty backed by an Errors & Omissions insurance policy that manages the lender's risk against possible valuation inaccuracies.

 
AVM Plus Product Features & Guidelines

• Specific to loan transactions
  secured by Firsts, Seconds, or Equity Liens
   
• Coverage period - Life of Loan
   
• No annual aggregate limit or
  deductible on coverage
   
• Eligible claims: 10% variance
  standard (Customized by lender)
   
• Maximum loan amount: $750,000
   
• Coverage transferable
   
• Claim process: Submit
  retro-appraisal
   
• Coverage transferable
   
• Claim process: Submit

More Products and Services

AVMs
AVMs, or Automated Valuation Models, automate the subject property valuation process. They are commonly used on refinances, equity loans, quality checks, and other types of loans where property ownership is not changing.  Many different real estate factors are used in processing AVMs: recent sales in the subject property area; overall market conditions; conforming neighborhood factors; CPI (Consumer Price Index); and GNP (Gross National Product).

AVMs are 30-second reports, meaning that the completed report should return to the user in 30 seconds or less.  AVM vendors include:

ONLINE integrates these AVM vendors in a unique and efficient way-ask us about the Rolling AVM feature!

Title
All of your title needs are met by our large selection of local and national title vendors, including:

• American Title - all 50 states
• National Real Estate Information Services - most states and counties covered
• Nationwide Title Services - most states covered
• NetCo Title - most states and counties covered
• Security National Real Estate Services - most states and counties covered
• TransContinental Title - national coverage

Local title vendors - ask us for information in your area!

If these features aren't enough, ONLINE Mortgage Reports invents, tests, and releases new features, system enhancements, and new vendors based on popular demand on a bi-monthly basis. This escalated update schedule assures you that your needs are always met efficiently and quickly.

Why wait? Make more money, save time, close more loans, and start today!
Call (866) 630-6440 or e-mail Sales@ONLINEInfoServices.com