Seamlessly Integrated Credit Reporting
Floify's integration with the SettlementOne credit reporting solution enables loan originators to quickly and easily get validated applicant credit information directly within Floify by leveraging the originator's existing SettlementOne account.
Setting up the integration in Floify requires just a single-click to enable, and then the originator's SettlementOne account credentials are entered, and subsequently stored for future use, on the report order form.
Once the integration setup is complete, a credit pull can be initiated on-demand from a Floify loan flow. Additionally, loan teams can configure the integration to automatically pull a borrower's hard or soft credit report upon the submission of a Floify 1003 loan application.
The SettlementOne integration takes advantage of Floify's built-in credit authorization functionality, which empowers borrowers to digitally submit their consent to originators in just a few clicks.
After credit has been ordered, the full report will be delivered to the yellow bucket of the corresponding Floify loan flow within moments and is viewable only to the loan originator and lending team for processing.
In addition to credit reporting, the integration also leverages SettlementOne's partnership with MeridianLink's Mortage Credit Link (MCL) solution to provide access to verification of assets services (fulfilled via AccountChek™) as well as verifications of income and employment (fulfilled via Equifax The Work Number®).
SettlementOne is one of the nation’s largest suppliers of mortgage data and appraisal services. SettlementOne provides financial institutions and consumers with secure, efficient and cost effective solutions that streamline the mortgage origination and lending process.
To learn more about SettlementOne, visit settlementone.com.