Entering Borrower(s) Credit Scores in Servicing Director
Credit scoring uses statistical models to assess the creditworthiness of a borrower or the likelihood that a loan will become delinquent.
There are thousands of credit scoring models; each considers different variables for different types of credit. These variables include payment history, amounts owed, length of credit history, pattern and types of credit use, and factors related to the secured property.
You can use credit scores to focus your collection and workout efforts on higher-risk loans and to defer action on lower-risk loans where delinquencies are likely to be resolved with little or no collection effort.
To Add and View credit scores for loans - Select Customer service,select loan, then click on Other tab > Credit Scores
- Click New
- Enter you data
- Click OK
For further information regarding credit scores please see Servicing Director Help Topic Overview of Credit Scores.
ArticleNumber:
000048573