CREDIT

Do I need to pull a credit report separately before I submit my loan to Desktop Originator?

With your credit agency user name and password saved in the 1003 manager preferences (choose "edit my AU credit agency prefs"), you will be asked if you would like to retrieve a credit report after section III of the 1003 is completed. Simply make sure the "retrieve credit" box is checked, then click on "Yes, start my credit request". This will send you to the next section of the 1003 manager to complete while the credit request is running in the background. You can see the status of the credit request in the top right corner of your browser. When you have reached the liabilities section of the 1003 manger, the credit report will have auto populated this section with information from the credit report.

What if I have already pulled a credit report on a borrower that I want to send through Desktop Originator?

If you have already pulled credit on a borrower, choose the credit agency you used from the pull down menu in the credit manager, input the reference number for this borrower's credit report and check the "retrieve credit" box (you will not be charged for an additional credit request). Selecting "Yes, start my credit request" will send you to the next section of the 1003 manager to complete while the credit request is running in the background. You can see the status of the credit request in the top right corner of your browser. When you have reached the liabilities section of the 1003 manger, the credit report will have auto populated this section with information from the credit report.

I have reached section IV and the menu bar shows that credit has not yet been pulled. How do I get the credit retrieval process started?

Make sure your credit agency user name and password have been saved in your 1003 preferences. Also make sure you have enough information to retrieve credit (section I, II and III are complete). Then go to your credit manager and check the "retrieve credit" box, then click on "Yes, start my credit request". This will send you to the next section of the 1003 manager to complete while the credit request is running in the background.

Does LION?s Desktop Originator interface provide access to embedded credit retrieval?

LION provides Desktop Originator users with access to the Desktop Originator embedded credit retrieval service via their Internet Web site, www.lioninc.com. Originators are required to maintain independent contractual relationships with one or more of the credit information providers available to subscribers on the MORNETPlus Network.

Desktop Originator and Desktop Underwriter are registered trademarks of Fannie Mae.