First American Report Complies With New Freddie Mac Guidelines

Posted by Orb Staff on November 26, 2007 No Comments
Categories : Residential Mortgage

First American CREDCO, a provider of specialty credit reports to the mortgage and consumer finance industries and part of First Advantage Corp., says that its Anthem residential mortgage credit report (RMCR) product – also known as the Anthem Report – meets or exceeds Freddie Mac's updated guidelines for nontraditional credit.

Anthem RMCR is a solution for verifying noncredit payment references and documenting those references on an RMCR, as noted in Freddie Mac's recent news release clarifying portions of its Single-Family Seller/Servicer Guide.

"Most of the market has been focusing on scoring without considering whether the underlying data meets specific financial product underwriting standards," notes Mark Catone, senior vice president at First American CREDCO. "While we also deliver a score, which we believe will gain in adoption over time, Anthem RMCR delivers an origination management solution out-of-the-box."

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