Credit Plus Announces Direct Connection To FHA TOTAL Scorecard

Posted by Orb Staff on March 31, 2010 No Comments
Categories : Residential Mortgage

Customers of Credit Plus Inc., a credit reporting agency, can now obtain direct access to the Federal Housing Administration (FHA) Technology Open to Approved Lenders (TOTAL) Scorecard through the company's technology, Credit Plus says.

The Department of Housing and Urban Development developed the FHA TOTAL Scorecard to evaluate the credit risk of FHA loan applications that are submitted through an automated underwriting system. A mortgage professional uploads the 1003 loan data into the FHA TOTAL Scorecard, and the application is approved or denied. A real-time response is provided through the automated technology.

"We're excited to be one of the first credit reporting agencies to offer this direct access," says Greg Holmes, national director of sales and marketing for Credit Plus. "This connection allows our customers to save money and submit directly to FHA TOTAL Scorecard."

SOURCE: Credit Plus Inc.

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