Undisclosed Debt Notification

Undisclosed debt is the leading cause of mortgage fraud and represents a large portion of lender repurchase demands. Fannie Mae’s Loan Quality Initiative guidelines “recommends that lenders have processes in place to facilitate borrower disclosure of changes in financial circumstances throughout the origination process.”Undisclosed Debt Verifications from PCB Data provide real-time monitoring into borrower credit activity initiated during the “quiet period” – from the initial credit file pull through loan closing.