Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced enhancements that allow the ICE Credit Bureau Management solution to automate the credit dispute process and help servicers save critical time as they work to meet their 30-day reporting obligations under the Fair Credit Reporting Act.
Integrated with the MSP ® loan servicing system , Credit Bureau Management helps make the investigation process more efficient by compiling borrower information and pre-filling the forms involved in a dispute using the data from MSP. With the enhancements, Credit Bureau Management now allows servicers to automatically send those completed forms to third-party credit bureau reporting agencies without requiring manual re-entry of that data. This automation saves time and helps reduce the risk of errors in this process.
“ICE understands and appreciates how quickly servicers must act to complete their investigation into a credit dispute,” said Tim Bowler, President of ICE Mortgage Technology. “The new efficiencies we have introduced to Credit Bureau Management provide outsized value to servicers by reducing repetitive, manual data entry and saving servicers time when it matters most.”
A comprehensive consumer credit dispute solution, Credit Bureau Management helps servicers index disputes, compile information for investigations, preserve audit trails and manage pipeline workflows. Servicers can view a work item list that keeps track of work in progress and allows disputes to be assigned to different back-office users, introducing greater efficiencies for servicing teams.
“Every individual has the right to a fair and accurate credit history, and ICE is proud to help servicers equitably and efficiently settle credit disputes,” said Bowler. “Our enhancements to Credit Bureau Management are part of our broader mission to systematically reduce inefficiencies across the housing finance life cycle, and to help our clients consistently provide the best experience possible for the homeowner.”
