1-800-966-1003 or 404-303-8656
email: sales@cdsusa.net



System Information
LOS Interface
FAQ's


As a client of CDS, you will be using our online system for pulling mortgage credit. Our system provides ultimate flexibility and control of reports, requests and accounting functions to manage costs...
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CDS now offers Automated Valuation Models (AVM's), and will soon be offering tax return verifications. Please see our services section for more details...
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Check out recent news updates from CDS to keep current on all our latest offerings and news items. We are doing new things every day, constantly finding new ways to serve you, the customer...
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The following is a list of frequently asked questions regarding our services.

 


Do I have to fax documentation when ordering trade updates?
With our Internet technology, you no longer have to fax supplement requests. Standard trade updates are ordered directly from the web-based credit report. Our system makes it very easy to order updates as well as track requests and show work in progress. Documentation is required for Credit Bureau Update requests and public record updates (bankruptcies, judgment and tax liens).

Do you accept written documentation as proof of payment?
In order to protect the integrity of your loans and the credibility of the credit report, it is the policy of CDS to verify all letters and documents provided to us for updates. The only exceptions are Western Union Wire receipts, bankruptcy papers and documentation from a courthouse regarding public records. Cancelled checks, money orders and cashiers checks are not acceptable as proof of payment or pay-of on any account.

Must we supply full account numbers on trade updates?
For security reasons, the bureaus do not report full account numbers on revolving accounts and credit cards. In order to update these trades, complete account numbers are required. Please provide this information when requesting an update.

Who should my client pay on a collection account?
Do not pay the original credit grantor! Pay the collection agency named on the credit report only, (we do not verify information with the original credit grantor). Paying by Western Union wire will enable CDS to show the account paid immediately upon receiving the wire receipt in our office without any further verification.

How do you handle public records?
Bankruptcy -- Bankruptcy papers are required in order to process a RMCR. Only the Discharge Page and Schedule of Creditors is required, not the entire set of bankruptcy papers.

Judgments -- In order to show a judgment satisfied the applicant must provide us with a "satisfaction" letter from the courthouse.

Tax Liens -- In order to show a tax lien as paid we need a "Release of Lien" from the courthouse or documentation from the IRS.

How do you handle consumer credit counseling accounts?
When accounts are included in CCS the following statement will be added to each trade: "Account included in consumer credit counseling". Documentation from CCS cannot be used to alter the balance, late dates or other account information regarding a creditor that is included in CCS. If the applicant provides documents from CCS stating an account is paid-off, CDS must contact the creditor for verification. The credit report cannot be altered if the creditor records do not reflect the pay-off.

Do you accept or verify nontraditional credit?
A nontraditional credit report is a way of developing a credit history for borrowers who have not developed a credit file with traditional credit providers. Though it should not be used as a means of offsetting derogatory credit, nontraditional reports are a way to build a credit report for a borrower who has either no credit history of an insufficient number of credit references on their traditional credit bureau file. Acceptable nontraditional trades are utility bills (i.e. gas, electric, telephone, cable, etc...), installment insurance premiums, accounts with local stores, loans obtained from a private individual or child care payments. In order to add these accounts to a credit report, the borrower must request a letter from the creditor. The letter must be current within 30 days and should provide the date the account was opened, the original amount of the loan (when applicable), the balance, monthly payments, payment history and the date the account was last paid. The letters should be faxed to CDS when ordering a Full Factual RMCR or an update to an infile. CDS will verify the letter and add the account to the credit report.

How do I get signed up with CDS?
If you are located east of the Mississippi River, call our Atlanta, Georgia office at 1-800-966-1003.

If you are west of the Mississippi River, call Jodi Greenberg in Los Angeles at 818-469-8788. You can also download the applications from our "Get Started" section of this website and fax them to CDS at 404-303-8260 and a representative will give you a call back shortly.











Tel.:      1-800-966-1003
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