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Non-traditional Borrower Credit Report
Sometimes you are approached by a borrower
who doesn't have a credit history, or whose history is insufficient
for you to make a full assessment of the risk involved in
funding that loan. The repositories cannot provide you with
enough data so that you feel comfortable making a lending
decision, so Informative Research can help you fill in the
report with alternative trade data.
Many borrowers who fall into the non-traditional
category have established accounts with organizations such
as utility companies or private purchasing organizations.
We can take these agreements and form a credit analysis
with ratings in order for you to properly evaluate the borrower's
capacity and dependability in assuming loan payments.
Fannie Mae has highlighted three
segments non-traditional tradelines could fall under. The
highest priority qualifiers are regularly scheduled, housing-related
sources including:
 Utility
payments
Rent
expenses
Phone
payment
Cable
TV contract
Possible other alternate non-traditional
tradelines could include:
Insurance
payments
Local
trade accounts with businesses
Recurring
payments for child care
Tuition
payments
Other
verifiable sources
Take advantage of IR's experience and
expertise in manual verification of borrower data. We are
available to discuss your needs in detail. For more information
of how IR can meet your needs for these types of borrowers,
please contact
our Sales team.
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