Turnkey Lending Solutions

Credit Reporting

The SellingSource.com offers the industry’s most advanced credit reporting agency (CRA) for the payday and specialty consumer lending industry. Our end-to-end service ensures that the focus is on the entire transaction lifecycle from loan application purchase decisions that enhance conversions, to underwriting and collections decision support – using advanced credit information, nationwide bankruptcy reports, and skip-trace data.

Unlike other CRA’ for this industry, the SellingSource requires its lender members to provide a daily update of loans funded and detailed payment history, including the Automated Clearing House (ACH) return data. This ensures that our data is current and more accurately portrays a consumer’s loan performance.

Data for the service is housed in our SAS 70 compliant disaster recovery data centers with full redundancy and 99.999% reliability for enhance service to our members.

FCRA Compliance and Security

SellingSource has made significant investments in the systems and compliance infrastructure to deliver the industry’s only top-tier credit reporting service that serves the needs of the members of the bureau as well as the consumer. With FCRA-compliance, our CRA supports fair lending practices and protects consumers by delivering accurate and positive information on their credit performance.

Credit Reports

The reports provided are more comprehensive and accurate than any in the industry. With our focus on reporting information that is both accurate and timely, the reports provide the most complete profile of a consumer’s credit history and current credit activity. This ensures that members have the best information on which to base lending decisions.

Decisioning Solutions

Our objective is to enhance lead conversions and reduce defaults. The true value of the credit reporting service is therefore maximized by bundling our enhanced identity verification services with the credit information delivered by the credit reports. We are major aggregators of leading industry data sources that are used in real time to deliver enhanced identity verification, phone verification, bankruptcy data, and other services to aid lenders in making the best loan decisions. These services can be further enhanced by using our lead verification and screening solutions early in the acquisition cycle and our skip-trace service for collections.

Scoring and Modeling

Scoring and modeling is a complex and changing process for this volatile market segment. Our proprietary credit scoring models, developed specifically for online lenders in the specialty financial services industry, use a proven formula to help lenders determine risk based upon their business practices. These models are refined to meet the individual lender’s requirements and they define the waterfall for decisioning back to the lead acquisition process. Our credit scoring models adhere to the Consumer Credit Protection Act and therefore do not consider race, color, religion, national origin, sex, martial status, or receipt of public assistance.

Benefits

• First credit reporting agency developed for the underserved micro-loan and payday lending market that is FCRA-compliant
• Designed specifically to collect and provide credit information on underserved, non-traditional borrowers seeking micro-loans and other specialty financial services, and to deliver this to the lender on a timely basis to facilitate lending decisions based upon real-time credit activity and consumer behavior
• Integrates to the lead verification services to allow better end-to-end decisions
• Provides credit reporting for consumers not typically monitored by traditional credit bureaus
• Requires online and/or storefront lenders and installment-loan providers to report on a frequent basis, ensuring there is no reporting “time lag”
• Real-time, OFAC compliant data verification services allow lenders to positively identify the online borrower, thus reducing fraud, identity theft, and bad debt
• Increases effectiveness of collections
• Provides consumers with same benefits and protection offered by three major credit bureaus, allowing these consumers to establish a positive credit history

Lending Markets Served

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