Contractor shall provide scoring capability. The scoring system shall assess the ability of the borrower to pay back the loan. The score shall be based on data available on the borrower’s merged credit report and shall measure the relative degree of risk. At a minimum, the Contractor shall provide three (3) FICO Type mortgage-scoring systems on each report, which shall be the Fair Isaac Scoring Systems consisting of Experian, Equifax, and TransUnion. Contractor shall have the ability to interface with CalVet’s LOS, Calyx Path, and populate the details of the liabilities in the proper fields to create an industry standard loan application. Calyx Path is a cloud-based application, hosted external to CalVet. Contractor shall provide the State with credit reports that comply with the provisions of Fair Credit Reporting Act, Public Law 91-507, Title VI. The credit reports furnished to the State are exclusive for the State’s own use and will be held in strict confidence with no exception to comply with the Information Practices Act of 1977. Any information received must be disclosed to the borrower upon request. This information will be used only in connection with a credit history involving the underwriting or rewriting of mortgage loans and delinquent accounts. Contractor shall certify that information provided by the State to obtain credit reports shall be used solely for the purpose of providing such credit reports and will not be used to update records. Contractor shall provide customer service phone calls at no additional charge. Contractor shall provide access to cumulative customer billing invoices. Contract shall provide access to systematic reports with extract capabilities, to include but not limited to monthly CalVet billing, usage reports, and fraud alerts triggered.
