Anthem Suite FAQs
Frequently Asked Questions
What Is The Anthem Suite?
The Anthem Suite is a comprehensive offering of alternative credit services that allows lenders to qualify consumers without traditional credit information. By using supplemental information from alternative sources, such as rent payments, a lender can form an accurate risk assessment on first-time home buyers, recent immigrants, unbanked consumers, international applicants, and other consumers.
Who Accepts Anthem?
Any loan program allowing nontraditional credit data can use the Anthem Suite. The Anthem Report and Score were designed with data and underwriting rules already in use with GSEs and major lenders across the country. Lenders with an investor agreement approving non-traditional data – as well as those desiring to normalize, streamline and reduce risk in loan programs using non-traditional data – can incorporate the Anthem Report and Score into their process.
What Data Is Used In The Anthem Suite?
The Anthem process starts with credit data gathered from an Instant Merge credit report. The information is then supplemented with alternative forms of credit data, such as rent, utility and insurance payments. Research shows that alternative payment histories, such as rent payments, are the most predictive form of data, and can accurately demonstrate a consumer’s likelihood of making future mortgage payments.
All non-traditional credit data used to generate an Anthem Report and Score are verified by CoreLogic Credco’s dedicated team of FCRA-certified credit specialists.
What Is The Anthem Score?
The Anthem Score was developed to fit seamlessly into existing mortgage, underwriter and investor guidelines. It is calibrated to produce scores that are similar in range and distribution to traditional credit scores. Used to improve underwriting of loans, any loan accepting non-traditional credit can be streamlined and normalized by implementing the Anthem Score.
- Score range is 325 to 850.
- Fully compliant with ECOA, GSE and regulatory requirements including the ability to make disclosures and disputes.
- Includes explanatory Factor Codes.
How does Anthem help consumers?
A Score for Every Applicant
The Anthem Suite allows lenders to obtain a credit report and an underwriting score on any applicant. Since Anthem’s inception in 2004, we have been able to get credit information on every applicant who needed an Anthem Report.
Bi-Lingual Support
CoreLogic Credco’s bilingual team of Spanish and English speaking FCRA-certified credit specialists are available to assist you and your applicant to re-evaluate credit data, update as necessary, and re-issue the score. This Customer and Disputes Resolution Service is offered FREE to every consumer whose credit report is provided by CoreLogic Credco.
How Is Anthem Implemented?
The Anthem Suite can be delivered to you in a variety of methods. CoreLogic Credco customers can receive Anthem through their existing connectivity or online through Credco.com, or Anthem can be integrated into an existing LOS.
How Is Anthem Ordered?
Ordering Anthem is simple:
- Pull an Instant Merge Report
- If the file comes back as “thin” or “no file”, upgrade your report to an Anthem Report
- FCRA-certified specialists will do the research and return a report and score to you in a timely manner
To further simplify the process, you can also order Anthem Advisory, which automatically notifies you when “thin” and “no file” criteria are met on an Instant Merge Report.
Does Anthem Offer Compliance And Fraud Features?
Yes. The Anthem Suite is fully compliant with all aspects of the FACT Act, Credit Score Disclosures, and Consumer Disputes. All data is fully verified by FCRA-certified specialists to meet lender requirements, which helps detect and eliminate fraud. Fraud alerts, identity verification, income and employment verification are all available through the Anthem Suite of Services