Credit: Set Up and Pulling Reports

Introduction

This tutorial will guide you through the process of setting up credit agencies and pulling credit reports using Broker Plus. Broker Plus is an all-in-one solution designed for mortgage brokers and non-delegated lenders, providing essential tools for managing mortgage applications effectively. Understanding how to set up credit agencies and pull reports is crucial for streamlining your workflow and ensuring accurate credit assessments.

Step 1: Accessing Broker Plus

To begin, ensure you are logged into your Broker Plus account.

1. Open your web browser and navigate to the Broker Plus login page.
2. Enter your username and password, then click on the login button.

Step 2: Setting Up Credit Agencies

Before pulling credit reports, you need to configure your credit agencies within the system.

1. Navigate to the Settings section in the main menu.
2. Select the Credit Agencies option.
3. Add the required credit agencies by following these steps:
   • Click on Add Agency.
   • Enter the agency name and required credentials (such as API keys or account numbers).
   • Save your settings.

Practical Tip: Make sure you have your agency credentials handy to avoid any delays during setup.

Step 3: Pulling Credit Reports

Once your credit agencies are set up, you can start pulling credit reports.

1. Go to the Client Dashboard.
2. Select the client for whom you want to pull the credit report.
3. Click on the Pull Credit button.
4. Choose the appropriate credit agency from the list.
5. Confirm the request to pull the credit report.

Common Pitfall: Ensure that all client information is accurate before initiating a credit pull, as discrepancies can lead to errors in the report.

Step 4: Reviewing Credit Reports

After pulling the credit report, it’s essential to review it thoroughly.

1. Navigate to the Credit Reports section for the selected client.
2. Open the recently pulled report.
3. Check for the following:
   • Credit scores.
   • Account statuses.
   • Any derogatory marks or late payments.

Real-World Application: Understanding the credit report helps you advise clients on their credit health and potential areas for improvement.

Conclusion

In this tutorial, you learned how to set up credit agencies and pull credit reports using Broker Plus. Key steps included accessing your account, configuring credit agencies, pulling reports, and reviewing the information. By following these steps, you can ensure a smooth credit evaluation process for your clients. For further assistance, consider exploring additional features within Broker Plus to enhance your mortgage brokering experience.