A PRBC Report with FICO® Expansion®
Score is a credit report from the nation's leading
alternative credit bureau that contains active "non-traditional"
monthly trade line data for rent, mortgage, utility,
phone, insurance, and other recurring bill payments.
A PRBC Report may be merged to contain in-file credit
report information from Experian, Equifax, and/or
TransUnion.
Qualify More Applicants: PRBC Reports
meet or exceed FHA and the GSE's standards for establishing
and evaluating non-traditional credit histories.
Mitigate Risk: PRBC has established
the most up-to-date practices for validating identities,
non-traditional credit trade lines, and PRBC Reports
are delivered with a FICO Risk Score.Save Time and
Money: PRBC Reports save originators and underwriters
time and effort.
PRBC's simple online form replaces
the hassle of collecting cancelled checks, and making
numerous phone calls and faxes. Lenders reduce processing
costs by using independently verified data, provided
in standard bureau format, in each PRBC Report.
Automation of Alternative Credit:
PRBC Reports are delivered in a secure MISMO format
through a host of industry leading credit providers,
and can facilitate the ability for use in automated
underwriting
PRBC Reports may be used as a
Non-Traditional Mortgage Credit Report (NTMCR), as defined
by the GSE's and preferred by the FHA, as found in:
FHA's 04/08 Nontraditional
Credit Verification and Evaluation Mortgage Letter
08-11.
