The CL Verify DDA Report offers the most detailed historical bank account information available to lenders. With this financial verification tool, a lender can access a consumer’s past banking history to ascertain financial behaviour, enabling lenders to determine credit worthiness.
DDA Report Features
The DDA Report compiles information from the industry’s most trusted financial solution companies, including ChexSystems, the leading new-account verification service; Scan Network, the most widely accessed check authorization network; and several of the nation’s largest check-printing companies. Once identity has been verified, a lender can confidently evaluate banking behavior such as:
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Number of bank accounts reported for the applicant’s social security number |
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Number of account-opening inquiries |
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Bank account status (open, closed) |
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Reasons for closure (fraud, abuse) |
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NSF check activity, including open date, paid date and merchant |
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Check order history |
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Deposit account collection |
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