Undisclosed Liabilities Report Service

The Undisclosed Liabilities Report service is a proprietary solution to meet the needs of mortgage lenders who sell loans to Fannie Mae.

Streamline and Reduce Manual Intervention

In March 2010, Fannie Mae announced their Loan Quality Initiative (LQI) that affects all lenders who sell loans to the agency. CSC has developed an automated workflow solution which offloads the extensive and time-consuming manual review process associated with meeting Fannie Mae’s requirements.

As of June 1, 2010, lenders are obligated to implement processes to identify any undisclosed liabilities in a transaction up through the closing of the loan. The Undisclosed Liabilities Report (ULR) service is CSC's proprietary solution to meet the needs of mortgage lenders who sell loans to Fannie Mae.

Lenders are faced with devoting significant time and resources in back office operations trying to manage this process in a manual environment or risk exposing themselves to a repurchase penalty.

A Custom Solution to Meet Your Needs

CSC has developed an automated workflow solution which offloads the extensive and time-consuming manual review process associated with meeting Fannie Mae’s requirements. We have designed a modular suite of services to address undisclosed liabilities in the following areas:

• MERS® report verification – an automated channel for disclosing any mortgage loans from the time of application up through the closing of the loan

• Credit refresh – rapidly retrieves the latest snapshot of the applicant’s credit file without posting a hard inquiry

• Undisclosed Liabilities Report (ULR) – efficiently examines the business needs

One of our Product Managers will work with you to determine what areas of your current application workflow need reinforcement and how CSC can provide additional coverage that alleviates the added manual burdens of keeping in compliance. Whether it is strengthening your process at time of application, sharpening your credit refresh dexterity at pre-close or enhancing your quality control post-close, CSC offers a full service solution to help ensure a consistent process that significantly reduces manual intervention.