CHICAGO – TransUnion Settlement Solutions today announced the availability of its Pre-Decision Qualifier (PDQ). PDQ gives lenders an instant and accurate value range for a subject property, allowing them to qualify potential borrowers before ordering a full appraisal report.
In addition to an estimated property value range, TransUnion’s PDQ delivers property characteristics for up to 15 recent neighborhood sales, a notation indicating irregular sales history for a subject property or others in the vicinity, and transaction history information for a subject and neighboring properties. This intelligence can help lenders reduce the number of unnecessary appraisals ordered for applications that do not result in a loan, saving both time and money.
“TransUnion’s PDQ offers the mortgage industry a compelling value proposition,” said Bill Sullivan, senior vice president, sales and marketing for TransUnion Settlement Solutions. “With the power of early decisioning, lenders can better target applicants who meet their risk characteristics, thereby making the origination process more efficient.”
Offered through TransUnion’s secure Web site, PDQ has features that are suited to non-prime lenders who are processing B&C loans where the likelihood for default is higher. PDQ helps combat the recent growth in mortgage fraud related to illegal property flipping by allowing lenders to detect fraud earlier in the process. “Today’s mortgage lenders require innovative solutions that address industry needs. TransUnion’s PDQ was designed with this purpose in mind,” said Sullivan.
TransUnion Settlement Solutions delivers an end-to-end solution that helps mortgage lenders realize time and cost efficiencies in all stages of the lending process, from account acquisition to origination to closing. TransUnion LLC, the parent company of TransUnion Settlement Solutions, also offers a full suite of products aimed at helping the mortgage industry combat fraudulent activity.
