Credit Plus Expands Reps and Warranties Coverage for Lenders

Credit Plus, Inc., a mortgage verification service provider headquartered in Salisbury, Maryland, announced it will offer Reps and Warranties coverage for its entire line of verification services. This coverage will allow lenders to protect their companies against loan defaults and the repurchasing requests that follow.

Greg Holmes, national director of sales and marketing, discussed the number of options available to mortgage professionals through the expanded coverage.

“Our coverage is not limited to just a few products. Rather, it extends across our comprehensive line of verification offerings. And, our customers can obtain it today. No special technology integrations are needed to attain this protection,” he said.

In order to receive the Reps and Warranties coverage, Credit Plus obtained certification through The Prieston Group (TPG) after a rigorous review. TPG’s unique review process examines companies from mortgage banking, law, risk management, and insurance coverage perspectives.

Arthur Prieston, Chairman of TPG, explained the rigorous system used to evaluate Credit Plus.

“We have developed a risk management review process that sets the bar extremely high and that is unmatched in the industry,” Prieston said. “Quite frankly, few companies can meet our stringent requirements; that’s why being certified by TPG is so prestigious. Lenders can be confident in their lending decisions when they purchase Reps and Warranties coverage for verifications through Credit Plus.”

Coverage is available for all of the verification products included in the suite, which are tri-merged credit reports, trended credit data, tax return verifications, verifications of employment, electronic verifications of deposits and assets, undisclosed debt verifications, and more. Lenders can access the Reps and Warranties coverage through Credit Plus’ technology platform.