Introduction
Credit Bureau provides an assessment of the customer’s credibility based on their bill payment history, loans, current debt, and other financial information including their work, housing conditions, facts of bankruptcy, and current debts. Credit reports help lenders decide if they'll give you credit or approve a loan, as well as adjust the rate.
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As a result of the integration, Turnkey Lender can be set up to run such checks automatically, allow manual requests for a check, as well as to provide access to the whole credit bureau report.
Credit Bureau Settings Overview (Administrators)
In order to use the credit bureau services for loan requests of your borrowers in TurnKey Lender, you should:
Set up Credit Bureau Integration in the system, and define its basic details, in particular, set up the credit product to define when the check shall be automatically implemented (see How to Enable and Set Up the Credit Bureau Integration )
Add Credit Bureau details of a specific provider (see Credit Bureau Settings for Specific Providers )
Set up the decision-making process to define how the check shall be implemented (see Decision Rules Related to Credit Bureaus )
Using Credit Bureau Integration Results (Back-Office Users)
Once the integration has been set up by your System Administrator, Back-office Users can:
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