Close More. Close Faster. Close Easier.

The information you trust to make sound lending decisions

LENDING SOLUTIONS

Products and services

undefined

 

 

 

 

 

Overview

Data Facts delivers a comprehensive suite of Lending Solutions. We are dedicated to staying on the forefront of industry regulations and technological advancements. Our commitment to operational excellence, combined with advanced efficiency, delivers the highest level of compliance. We enable you to close MORE, close FASTER and close EASIER. 

 

SOC Service WBENC Certified

Our Solutions

appraisal Services
Appraisal Services

Maintain compliance and your appraiser relationships with Data Facts’ efficient solutions. Automated reports, property valuation tools, and more are right at your fingertips, keeping you on top of all pre and post closing appraisal processes.

Learn More Now!


fraud Prevention
Fraud Prevention

Minimize risk with Data Facts’ entire suite of fraud prevention tools. Choose bundled or ala carte services to create a personalized solution to fit your exact needs-efficiently and effectively.

Learn More Now!


Credit Reporting
Credit Reporting

Data Facts’ integrated, easy to read credit reports, provide you the first step in determining your applicant’s credit worthiness. Advanced credit technology and personalized teams provide you the information you trust needed to close more loans faster and easier.

Learn More Now!


Verification Services
Verification Services

Data Facts’ automated verification services allow you to verify your applicant’s employment, deposits, income and more-saving you time and money.

Learn More Now!


Flood Certifications
Flood Certifications

ServiceLink provides the industry’s most comprehensive flood certifications. Improve your processes, and increases efficiencies, with instant findings, and most importantly, provide the latest FEMA data to ensure federal regulatory flood compliance.

Learn More Now!


Portfolio Monitoring

When it comes to consumer credit, the only constant is change. And, unfortunately, when it comes to maintaining a good grasp on your consumer credit portfolio, change can be a major challenge. Data Facts’ portfolio monitoring product is a simple tool that helps you proactively review consumer credit profiles faster and more frequently. With this type of information in hand, you can make better risk-management decisions, from predicting a customer’s ability to pay, to preempting delinquencies, to best-customer retention.

Learn More Now!

Partners and Affiliates

National Credit Reporting Association, Inc. 

Founded in 1992, the National Credit Reporting Association, Inc. (NCRA) is a national trade organization of consumer reporting agencies and associated professionals that provide products and services to hundreds of thousands of credit grantors, employers, landlords and all types of general businesses.


Lipscomb & Pitts Breakfast Club The Lipscomb & Pitts Breakfast Club was established in Memphis, TN in 2005. Lipscomb & Pitts Insurance has owned the Lipscomb & Pitts Breakfast Club since 2007. The purpose of the Lipscomb & Pitts Breakfast Club is to foster teamwork among Mid-South business leaders and to provide as many enrichment opportunities, as possible, to strengthen the business community and help pave the way for business leaders to become more involved in the community.


MBA_Member

The Mortgage Bankers Association is composed of mortgage lenders, brokers, and affiliated industry associates. The main goal of the MBA is to promote ethical, efficient, and professional business practices in mortgage financing, benefiting individuals and businesses seeking mortgage loans. Data Facts is a member of the following MBA chapters: The Tennessee Mortgage Bankers Association, The Mississippi Mortgage Bankers Association, The Mortgage Bankers Association of Arkansas and The Oklahoma Mortgage Bankers Association.


SharperLending™

SharperLending™ is an online bundled service platform that provides lending products and services for fast and accurate loan processing. SharperLending's advanced technology and products bring the best in mortgage services to lenders and brokers by accelerating the entire loan process while delivering savings to consumers.


ServiceLink National Flood, LLC

ServiceLink National Flood, LLC. (SLNF) was founded in 1988 as a small, independent flood determination company named National Flood Information Services (NFIS), to help lenders comply with the Flood Disaster Protection Act of 1973 and later the National Flood Insurance Reform Act of 1994. NFIS was one of the earliest flood determination providers and experienced rapid growth, securing a client base of major mortgage lenders.


Servicing Director™
From first payment through payoff, Servicing Director™ (formerly Interlinq Loan Servicing) confidently supports borrower and investor needs. An integrated default management module better manages defaulted loans and gets them back on track – deepening relationships with both borrowers and investors.
Quality Mortgage Services
Quality Mortgage Services provides mortgage QC services nationwide. QMS's ability to provide the examinations and compliance verification is supported by extensive experience in mortgage lending.

Ellie Mae
Ellie Mae is a provider of enterprise solutions, including an online network, software and services for the residential mortgage industry. The Ellie Mae Network is one of the largest electronic mortgage origination networks in the United States and enables mortgage originators to securely conduct electronic business transactions with lenders and settlement service providers.

Compliance Corner

In today’s financial climate, it is becoming more evident by utilizing bundled services from a single provider Lenders will be able to serve clients more effectively, profitably and will emerge as industry leaders.

Why should you bundle services? First of all, one vendor equals fewer headaches. It standardizes operations and saves time. You don’t have to call, email and wait for responses from multiple vendors. Secondly, it builds a stronger relationship. This makes for a more positive overall experience. Lastly, it helps you to stay in compliance. Compliance is ALWAYS a top priority at Data Facts. Bundling services minimizes the risk of being out of compliance by having all your paperwork from ONE source. Your chosen vendor should be constantly providing compliance information for your records.


More best practice resources to help you maintain compliance:


How To Lower Your Compliance Costs
Due Diligence in Third Party Selection
→ Are You CFPB Compliant?
→ CFPB Alert: Are You Ready For August 2015?



 

Frequently Asked Questions

Q: How do I order an online supplement?

Open the report in www.XpertOnline.net . Click on the Supplements tab and then click "Request a Supplement". A copy of the report will open in a separate window. Click on the applicable trade line (blue line/link) to enter your request. A window will appear for you to either select a common service from a drop down list or you can type the information manually. Once you click on "submit", the request is sent to your assigned credit reporter electronically.

Q: Can I track my online supplement requests without having to call anyone?

Yes. In www.XpertOnline.net, all online Supplement requests are listed on the Supplements tab with a status. When a supplement is completed, the status will indicate that the supplement is complete and the completed request will then move to a Completed Supplements section. All pending requests will be listed as pending in a separate section. This will help you sort what is still being worked on and what is complete.

Q: Can I be sent an e-mail message when my report is ready to be viewed so I do not have to keep checking for it?

Yes. We can setup your e-mail address in our system and your credit reporter will send you a notice when your report is ready to be viewed.

Q: Can I look at an original report before it was updated?

Yes. In www.XpertOnline.net, the Reports tab lists an entry for every report sent to your mailbox. This entry includes a date/time stamp so that you know when it was sent to you. You can open any of the reports listed to view and/or print.

Q: How do I remove a borrower from the report?

Open the report in www.XpertOnline.net . In the "Unmerge Report" section of t he Reports tab, click on the borrower that you wish to remove. This will generate a report, for you to view and/or print.

NOTE: this option just gives you a view of what the report will look like without the borrower and this action does not make permanent changes on the file. To permanently remove the borrower from the file, you need to contact your credit reporter for assistance.

Q: Can I look at my billing online?

Yes. Open www.XpertOnline.net  and click on the "Admin" tab. Under the Admin section, click on Management Reports. Depending on the rights set under your User ID, you will be able to view all reports ordered under the account or all reports ordered by you personally. If you have rights to view all reports ordered under your account, you can also print a breakdown per requestor.

Q: Can I reissue my credit report into FNMA DU/DO?

Yes. You simply use the reference number of the initial report in FNMA to reissue.

Q: Can Data Facts be used in the Freddie Mac Loan Prospector program?

Yes. Through a direct connection with Fidelity/TransChicago, Data Facts can now be used in Loan Prospector. A copy of the LP report will reside on XpertOnline for users to access for supplement requests and/or report upgrades.

NOTE: This access requires a separate setup. If you would like to be setup to use LP, please contact Data Facts technical support for assistance at support@datafacts.com.

Q: Can I reissue a report into Freddie Mac LP that was pulled outside of the Freddie Mac LP program?

Yes. You can reissue reports pulled in the Data Facts system. 

LOS Interface FAQs Q: What interfaces are currently available with the Data Facts programs?

For a complete list of interfaces available, click here

LOS Interfaces If you would like additional information or have questions, please contact Data Facts technical support for assistance at support@datafacts.com.

ePASS Q: How do I use the Data Facts interface in ePASS?

Click on: Data Facts in ePASS

POINT Q: How do I use the Data Facts interface in Calyx Point?

Click on:Data Facts in Point BYTE 2.0

Q: How do I use the Data Facts interface in BYTE 2.0?

Click on: Data Facts in Byte

Q: In my LOS, can I order a new report for a borrower if a report has previously been requested?

By default, we set all of our accounts with the ability to upgrade reports within 90 days. This default prevents you from being able to order a duplicate file in your LOS on the same file. If you would like the ability to order a new report inside your LOS, please contact Data Facts technical support for assistance at support@datafacts.com.

DO/DU Reports

Q: I am getting an error about my account information in DU. Where do I check this?

When you are ordering or reissuing a credit report in DU, there is a section for you to select the Credit Vendor. You must make sure that you have the correct information entered in this section to use Data Facts. If you need to verify your account information, please contact Data Facts technical support at support@datafacts.com.

Q:I am reissuing a credit report and getting an error that my reference number does not match what is on file at the bureau. What is causing this?

You must enter the report/reference number exactly as it appears on the original report. You must include all dashes. If there are letters in the report, they must be capitalized. Please make sure that you do not have anything entered other that what is in the report/reference number. If you continue to have problems, please contact Data Facts technical support at support@datafacts.com.

Q: I am getting Error code 41 when trying to reissue a report into FNMA. What is causing this?

This error can be a caused by a number of things. Please review the checklist here for the possible issues: FNMA Error 41 or 42 checklist. If you continue to have problems, please contact Data Facts technical support at support@datafacts.com. For more information on reissuing reports in the FNMA system, please click here: FNMA reissues. AU / Investor Interfaces Data Facts reports are able to be reissued in a number of automated underwriting and investor programs. Click on this link to view the programs our reports can be reissued in: Investor interfaces. System Information

Q: What are the system requirements for using the Data Facts programs?

Internet Explorer version 6.0 or greater with 128-bit encryption is recommended for program access. It is recommended that the user have a fast internet connection other than dial-up since all transactions will be processed online. If you are using dial-up, the report order and retrieval process will be slower than if working on a fast internet connection. Adobe Acrobat Reader is required to view/print the credit reports. Click here to download the latest version of Adobe Reader.

Q: How do I verify what version of Internet Explorer I have?

To verify the version of Internet Explorer you are using: Open Internet Explorer Click on Help Click on About Internet Explorer and verify the version listed If you need to update your current version, this update can be completed by going to Microsoft's Internet Explorer download page. Please keep in mind that your internet connection speed will determine how quickly this update process is completed. If you need assistance in upgrading, please contact Data Facts technical support at support@datafacts.com.

Q: Are Data Facts reports checked for OFAC ?

Yes. We currently provide the OFAC search for all reports that pull credit through Experian.

Consumer Resources

Fair and Accurate Credit Transaction Act
On December 4, 2003, President Bush signed into law the Fair and Accurate Credit Transactions Act of 2003, ensuring that all citizens are treated fairly when they apply for a mortgage or other form of credit.

The Fair and Accurate Credit Transactions Act (FACT Act) significantly modified the Fair Credit Reporting Act. We have been in contact with all three repositories (Equifax, Trans Union and Experian) and they are aggressively planning and building infrastructure to be ready for all of the 2004 FACT Act implementation dates.

As required by law, effective June 4, 2004 a consumer reporting agency may NOT provide a consumer report containing any information about debts relating to medical services unless such information is suppressed or coded so that the name of the medical service provider or the nature of the medical service cannot be determined.

This will be the case for any type of debt the repositories can identify as medical – collections, judgments, etc. Not only will the name be suppressed; but, also any corresponding phone numbers or addresses to the creditor.

Should the lender desire any information on a suppressed medical creditor, the consumer will have to provide such information to the lender. As required by law, we will not be able to provide any information on these type creditors. If the consumer needs information about such creditor, the consumer will have to contact the repository directly for a copy of their report and disclosure. Credit reports provided by a repository directly to a consumer will not have medical information suppressed.

Furthermore, we have learned that it is possible after further evaluation that all or some of the repositories will release the information with specific and proper authorization from the consumer. No determination has been made at this time. We will let you know as soon as we receive any updates.

A consumer may reach the repositories at the following:

For complete details on the FACT Act, click here.

 

 

 

 

 

 

 

Data Facts is head and shoulders above the rest!

"Wow! I can't say enough good things about my experience with Data Facts. I have worked with a number of credit report providers but    Data Facts is head and shoulders above the rest."

I have never worked with a team that is so dedicated to getting us what we need and helping every step of the way. They make my job so much easier."

Mortgage Lending Manager

National Bank

MORTGAGE LENDING MANAGER
Best Employees Ebook

The ULTIMATE guide to hiring the best employees

Have you (or someone you know) ever made a hiring mistake that cost a company BIG time? Well, see if that mistake made our “Top 10 Hiring Mistakes” list and find out how to avoid making these mistakes in the future!

Ebook Module

*Your email won’t be shared. No worries.

Need help to find the perfect solution for you?

For more information, to discuss your unique needs with a product specialist, or to request an estimate, connect with us.

TALK TO A REPRESENTATIVE NOW
Go to Top