Mortgage Services

Credit Reports

ACRAnet provides numerous products and services that can be used in making lending decisions. Credit data from Equifax, Experian, and Trans Union will allow you to see the whole picture. ACRAnet and their technical partner are able to provide customized output of the credit report in order to make the information easier to interpret.

Credit reports can provide the following information:

Open and Closed Credit Accounts
Debts
Payment History
Address History
Credit Inquiries

Social Security Verification
Security Alerts
Fraud Alerts
OFAC Alerts

The ACRAnet customer service team is available during business hours for assistance with tradeline updates and supplements.

*Tri-merge and individual bureau reports available

Sample Credit Report

Credit Scoring Tools

Better Scores Mean Better Pricing for Your Customer.

ACRAnet offers direct access to the IRS for all of your tax return verification needs. Through the 4506-T online ordering platform, you can input and receive numerous documents electronically.

CreditXpert® What-If Simulator™
- Customizable credit score forecasts. Simulate complex combinations of changes, or simply look into the future.
CreditXpert® Wayfinder™
- Best plan to improve credit score via pay-downs and other behavioral changes.
Credit Assure™
- Score improvement opportunity notifications (e.g. +17 points) right on your credit report.

Credit Radar™
- Key credit report info at a glance—get clued in before you dive in.
Trendscape™
- An automated analysis of the new trended credit reports, all in a simple cover page.

Sample Trendscape

Public Records Search

The Public Records Search Report (PRS Report) identifies civil court records on individuals from more than 3,600 jurisdictions—including small claims, municipal, county, state, and federal courts. The report provides information on the debtor, plaintiff, amounts, dates, amendments, and releases within FCRA guidelines.

Bankruptcy filings
Tax liens

Collections
Judgments

The report searches the national court records using the person’s name (first, middle, and last) to identify the number of potential records, and then filters those by the person’s address and social security number (bankruptcy only). Because lien and judgment records do not include the SSN, the national search uses a 4-point match on name and address elements to reduce the risk of a missed record, while minimizing the chance of a false record.

Sample Public Records

Personal and Business Tax Transcripts

ACRAnet offers direct access to the Income Verification Express Service (IVES) and the Return and Income Verification Services (RAIVS) of the IRS for all of your tax return verification needs. Through the 4506-T online ordering platform, you can input and receive numerous documents electronically.

1040
1065
1120
1120A
1120H
1120L

1120S
W2
1099
1098
5498

Sample Tax Return Request

Flood Determination

Rely on ACRAnet for accurate and reliable flood zone determination information.

ACRAnet Flood is powered by ServiceLink and LERETA, which provide determinations through the SharperLending Platform. They ensure compliance with all government and industry regulations and requirements, including new Biggert-Waters Act flood rules and RESPA requirements—so you don’t have to worry about non-compliance and penalty fees.

Property Valuation

Determining collateral value is an integral and 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 ratio.

The Automated Valuation Model (AVM) is a technology-driven product developed to provide instant, unbiased residential property valuations in the most cost-efficient and timely manner.

Additionally, ACRAnet has a product available that enables you to create and manage your own panel of appraisers in all 50 states. Please contact us if you would like more information about SharperLending’s Appraisal Firewall product.

*Residential and commercial AVM products available.

Sample AVM

Property Tax Services

Standard—property tax data, payment and agency information
Insourcing—access to automated tax data to monitor and process property taxes
Outsources—complete management of real estate tax functions

Verifications

SSA-89 Taxpayer ID—Through access to the Social Security Administration, ACRAnet is able to compare the social security number provided by the applicant to determine that it is valid for the name and birth date provided.

VOM/VOR—Verification of Mortgage and Verification of Rent are available for order when required during the underwriting processes.

Flat Rate Pricing

ACRAnet strives to meet our customers’ individual needs by working with you to create a custom package of those services that are pertinent to what you do.

Please contact us to learn more.

Rapid Rescore

It takes time to improve credit—but you don’t always have the luxury of waiting on creditors and the three credit bureaus to u pdate tradeline information.

When applying for a home loan, a small increase in your applicant’s credit score can save them tens of thousands of dollars. Fortunately, Rapid Rescore allows you to quickly get your credit reports updated, and you may see higher scores within just a few days.

By removing negative items, reducing loan balances, and fixing errors, Rapid Rescore gives you the opportunity to make quick updates to your applicant’s credit reports. The goal is to improve the information in the credit history, resulting in a higher score.

The Dos and Don’ts of Rapid Rescore

Do:

Utilize credit rescoring tools like the What-If Simulator™ and Wayfinder™
Provide proper documentation
Specify what your target score is
After submitting your Rapid Rescore, check your email often and respond to any emails from the ACRAnet team pertaining to your request

Don’t:

Submit a Rapid Rescore request without first utilizing the credit rescoring tools to determine a target score
Submit documentation older than 30 days
Pass on the costs of the Rapid Rescore to the consumer—per the FCRA, the charges for a Rapid Rescore will under no circumstances be charged back to the consumer, either directly or indirectly

Proper Documentation for a Rapid Rescore

For a Rapid Rescore, the credit bureaus will accept:

A letter from the creditor
An email from the creditor
A screenshot of the account

These documents must contain the following:

Creditor name
Consumer name
Account number (at least the last four digits)
Specific reference to the update being made to reflect what is on the credit report

What is included in a standard credit report?

Our most cost-effective report is the Silver Package, which includes a tri-merge report, credit scores, and basic fraud alerts.

Which credit score models does ACRAnet use?

Equifax Beacon® 5.0
Experian/Fair Isaac Risk Model V2SM
TransUnion FICO® Risk Score, Classic 04

*These are the current models required by Fannie Mae and Freddie Mac.

What if the consumer’s credit is frozen?

TransUnion:
By phone: Call 888.909.8872 (option 3)
Visit Online

Equifax:
By phone: Call 800.349.9960
Visit Online

Experian:
By phone: Call 888.397.3742
Visit Online

Please note, the consumer will need their social security number, date of birth, and the security freeze PIN from each bureau that they received when they placed the freeze. If they don’t have their PIN, have them reach out to each bureau’s customer service team.

*These websites and phone numbers are accurate as of September 2019.

How do I order a Rapid Rescore?

Before a Rapid Rescore request can be submitted, your company must sign the Rapid Rescore Addendum. Once the addendum is signed and sent back to us, you will fill out the Rapid Rescore Order Form and submit it to [email protected]

>DOWNLOAD RAPID RESCORE ORDER FORM PDF

>DOWNLOAD RAPID RESCORE ADDENDUM PDF