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Credit Reporting Integration

ReversePilot integrates with MeridianLink to automatically retrieve credit reports from all three major credit bureaus (Equifax, Experian, and TransUnion) for reverse mortgage applications.

Overview

The credit reporting integration:

  • Automatically pulls credit reports from all three bureaus
  • Supports both individual and joint credit reports
  • Parses and stores credit data in the system
  • Provides credit scores and detailed credit information
  • Allows retrieval of existing credit reports

Prerequisites

Before using the credit reporting integration, your company must have:

  • MeridianLink Client ID: Provided by MeridianLink
  • MeridianLink Client Secret: Provided by MeridianLink
  • MCL-Interface: Interface name for MeridianLink integration

These credentials are configured in Company Settings by the Company Administrator.

User-Level Credentials (Optional)

Individual users can have their own MeridianLink credentials:

  • Configured in user profile
  • Overrides company-level credentials if set
  • Useful for individual loan officer accounts

Ordering Credit Reports

For Individual Borrowers

  1. Navigate to the loan application
  2. Go to the Credit section for the borrower
  3. Click "Order Credit Report"
  4. The system automatically:
  5. Sends request to MeridianLink
  6. Pulls from all three bureaus
  7. Parses and stores credit data
  8. Displays results

For Joint Applications

  1. Navigate to the loan application
  2. Go to the Credit section
  3. Click "Order Joint Credit Report"
  4. The system automatically:
  5. Includes both borrowers in the request
  6. Pulls joint credit report
  7. Parses data for both borrowers
  8. Displays combined results

Credit Report Data

Credit Scores

The system retrieves and displays:

  • Equifax Score: Credit score from Equifax
  • Experian Score: Credit score from Experian
  • TransUnion Score: Credit score from TransUnion
  • Score Date: Date scores were calculated

Credit Information

Detailed credit information includes:

  • Trade Lines: Open and closed accounts
  • Liabilities: Current debts and obligations
  • Payment History: Account payment patterns
  • Inquiries: Recent credit inquiries
  • Public Records: Bankruptcies, liens, judgments

Account Information

For each account:

  • Account type
  • Creditor name
  • Account number (masked)
  • Current balance
  • Credit limit
  • Payment status
  • Payment history

Retrieving Existing Credit Reports

If a credit report was ordered outside of ReversePilot but exists in MeridianLink:

  1. Navigate to the Credit section
  2. Click "Retrieve Existing Credit Report"
  3. Enter the Order Identifier (MeridianLink order number)
  4. Click "Retrieve"
  5. The system automatically:
  6. Determines if individual or joint report
  7. Retrieves the existing report
  8. Parses and stores data
  9. Displays results

Order Identifier

The order identifier is the MeridianLink order number, typically an 8-digit number like: - 10430844 - 10548570

Credit Report Processing

Automatic Processing

When a credit report is received:

  1. System parses XML response from MeridianLink
  2. Extracts credit scores from all bureaus
  3. Parses trade lines and account information
  4. Identifies liabilities and debts
  5. Stores data in the system
  6. Makes data available in loan application

Data Storage

Credit report data is stored:

  • Credit Report Record: Main credit report record
  • Account Information: Individual account details
  • Liabilities: Debt information
  • PDF File: Original credit report PDF (if available)
  • XML File: Original XML response (if available)

Credit Report Features

Credit Score Display

  • View scores from all three bureaus
  • See score dates
  • Compare scores across bureaus

Liability Identification

  • Automatic identification of debts
  • Integration with loan application
  • Debt-to-income calculations

Credit History Review

  • Payment history patterns
  • Account status information
  • Credit utilization analysis

Troubleshooting

Credit Report Won't Order

Possible Issues: - MeridianLink credentials not configured - Missing borrower information (name, SSN, address) - Network connectivity issues - MeridianLink service issues

Solutions: 1. Verify MeridianLink credentials in Company Settings 2. Ensure borrower information is complete 3. Check network connectivity 4. Contact MeridianLink support if service issues

Credit Report Not Received

Possible Issues: - Processing delay - Invalid borrower information - MeridianLink processing error

Solutions: 1. Wait a few minutes and refresh 2. Verify borrower information accuracy 3. Check for error messages 4. Retry ordering if needed

Missing Credit Data

Possible Issues: - Incomplete credit report - Parsing errors - Data format issues

Solutions: 1. Review original PDF if available 2. Check XML file for raw data 3. Contact support if data is missing

Best Practices

  1. Order Early: Order credit reports early in the process
  2. Verify Information: Ensure borrower information is accurate
  3. Review Reports: Review credit reports for accuracy
  4. Document Issues: Document any credit issues
  5. Retry if Needed: Retry if initial order fails

Security & Privacy

Data Protection

  • Credit report data is encrypted
  • Access is restricted to authorized users
  • Data is stored securely
  • Complies with privacy regulations

Data Retention

  • Credit reports are retained per company policy
  • Expiration dates are tracked
  • Old reports can be archived
  • Compliance with retention requirements

Integration Details

API Integration

The integration uses:

  • MeridianLink API: https://cic.meridianlink.com/inetapi/request_products.aspx
  • XML Format: MISMO 3.4 format
  • Authentication: Basic authentication with credentials
  • Response Format: XML with embedded PDF (base64)

Request Types

  • Submit: Order new credit report
  • StatusQuery: Retrieve existing credit report
  • Refresh: Refresh existing credit report

Next Steps

For questions about credit reporting, contact your administrator or MeridianLink support.