Credit Attributes reveal findings in the borrower’s credit that impact underwriting requirements, the borrower’s ability to qualify, and much more. Credit Attributes are highly customizable to each clients’ requirements, creating efficiencies in underwriting and saving time. Detail in the credit report is calculated and summarized, delivering instant analysis, rather than requiring manual review and calculation.
Credit Attributes can be customized based on tradelines, inquiries, public records, time-frames, account types or based on summarizing details in the overall bureau infile. Examples include:
- Number of revolving trades opened in last 30, 60, 90, 120+ days
- Balance to credit limit ratio for revolving accounts
- Number of occurrences of 30, 60, 90, 120+ day delinquencies
- Total number of mortgage trade types
- Number of months since the oldest trade was opened
Identify Financial Distress
UniversalCIS released a special grouping of Credit Attributes to address the challenges of identifying financial distress resulting from the pandemic. The CARES Credit Attributes can also be customized, and may include:
- Counts of all tradelines affected by forbearance and deferred payment
- Breakdown of loan-type (mortgage, installment, revolving, auto, student loan) affected by forbearance and deferred payment
- Outstanding balance of tradelines affected by forbearance and deferred payment (can be further segmented by loan-type)
- Open to buy amount for a consumer
- Outstanding balance of all tradelines affected by forbearance and deferred payment
Customize credit attributes to ensure your reports instantly highlight findings that relate directly to your underwriting requirements.