RealTime IT News

LandSafe Offers "Merged" Credit Reports Via Internet

Pasadena, CA-based LandSafe Credit said that in conjunction with IBM, it plans a user-friendly "merged" credit report, available over the Internet to the mortgage finance industry.

Using information from the nation's three largest credit bureaus--Equifax, Experian and TransUnion--LandSafe's proprietary merge engine creates a single credit report. Advantages of the resulting information include extreme dependability, timely data and a format that meets the needs of both mortgage lending professionals and their computer systems, the company said. The technology will be offered under the name LandSafe Credit or customized for clients' use under their own "private label."

"LandSafe brings technological superiority and mortgage industry expertise to credit report production," said Brian Hershkowitz, LandSafe Credit president.

"This new product uses a merge engine that delivers fast and dependable information. Home loan decision-makers will benefit from the custom analytics and automated risk rating capabilities. . ."

The system was developed using IBM business intelligence solutions that incorporate state-of-the-art e-commerce principles.

"LandSafe's business intelligence solution enables mortgage brokers to make smarter, faster decisions anywhere, anytime," said Ben Barnes, general manger of IBM's Global Business Intelligence Solutions. "The solution combines powerful AS/400 server engines with Java advanced data analysis software to speed mortgage approvals."

Founded in 1994, LandSafe services include title insurance, escrow services, credit reporting, property appraisals, flood determination, and home inspections for residential mortgage transactions.