SettlementOne
SettlementOne provides a range of services including credit reporting, property valuation, and fraud detection, primarily to U.S. financial institutions, and is a subsidiary of SNH Inc. established in 1999.
Services
SettlementOne provides a range of services including credit reporting, property valuation, flood certification, fraud detection, and verification services. They cater to U.S. banks, mortgage lenders, mortgage brokers, and credit unions. The company is noted for its utilization of automated valuation models (AVMs) and property condition reports. Their services are designed to support financial institutions in making informed lending decisions and adheres to compliance regulations.
Products
SettlementOne offers several specialized products, including AccountChek, which automates the verification of assets and deposits, and Precise ID, which integrates fraud detection, validation, verification, and authentication. Another key product is the comprehensive ADV 120 report, aimed at identifying fraud risk factors in mortgage loan applications. These products are developed to enhance the reliability and efficiency of the services provided to the lending industry.
Compliance with Fannie Mae's Day 1 Certainty Initiative
SettlementOne provides services that comply with Fannie Mae's Day 1 Certainty initiative. This compliance ensures that lenders using SettlementOne’s services benefit from greater certainty around representations and warranties. The initiative aims to mitigate risks and enhance the efficiency of the mortgage approval process, aligning with SettlementOne’s goal to provide secure and reliable financial verification services.
Flood Determination Services
SettlementOne offers flood determination services featuring a 90% instantaneous return rate and Life of Loan tracking. These services provide essential data for assessing flood risks associated with properties, which is crucial for underwriting and risk management in mortgage lending. The efficiency and accuracy of these services help clients manage compliance and make quick, informed decisions.
Company History
SettlementOne was established in 1999 and operates as a subsidiary of SNH Inc. The company has built a reputation in the financial services industry through its varied products and commitment to compliance and security. Over the years, SettlementOne has continually enhanced its offerings to support the evolving needs of the mortgage and financial sectors.