BorrowerCheck™ Leverages Data from our Proprietary Data Repository to Highlight Income, Employment, and Identity Risks.
BorrowerCheck enables auto dealers to recognize borrowers with income, employment, and identity-related risks that may result in a demand to buy back the loan from the lender or add friction to future loan applications.
What It Does
BorrowerCheck provides a more accurate and comprehensive view of borrower risk than the red-flag solutions that dealers use today. It speeds up the financing process for the majority of customers by focusing a dealer’s validation efforts on real risk instead of false red flags. Using a simple set of data such as the consumer’s name, address, and social security number, BorrowerCheck generates a report that details whether the dealer needs to gather more information on a prospective borrower’s income, employment, or identity prior to submitting their loan application to lenders. If additional scrutiny is warranted, the report provides recommended tips for performing additional verification.
How It Helps
- Enables higher quality loans to be submitted to auto lenders
- Improves the buyer experience through less scrutiny and added speed
- Reduces costly loan buy-back demands
- Supports positive dealer-lender relationships