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Loanshield Frequently Asked Questions

LoanShield Civil Court Search

Under the bureau's implementation of NCAP, will judgments that are satisfied also be purged?

Yes, 96% of all judgments will be purged irrespective of the status, the only ones to remain are those with a partial SSN in the record.

Will the inquiry of the Civil Court Search affect the consumer's credit score?

No, the Civil Court Search will not affect the consumer's credit score.

Will the consumer be notified when I pull this report?

No, there is no notification to the consumer.

How would a consumer dispute the findings of the Civil Court Search?

The consumer may dispute the findings of the report directly to the lender or Avantus. Avantus will alert the data provider, PitchPoint Solutions (PPS), of a dispute and PPS will research the dispute and return the results and new report to Avantus, typically within 2-3 business days.

So, it is status quo with FHLMC and FNMA without any additional due diligence except the standard tri-merge credit, now without the public record search?

Yes, FHLMC and FNMA letters indicate lender does not need an extra 3rd party public records search, unless the borrower declares a lien or judgment on the 1003 and it does not show up on the credit report. The lender will still need to research the lien or judgement to confirm the status.

As a loan originating broker, will my lenders or investors be responsible to verify that there are no liens and judgments?

Check with your wholesale lender.

Is Avantus and/or PPS required to provide a free copy of a consumer's public record file per FCRA?

Neither Avantus nor PitchPoint is required under FCRA to provide a free copy to the consumer. Under FCRA, that is an obligation of the 3 credit bureaus; not the credit reseller who is providing this Civil Court Search.

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