Credit and Title Split

Background: EverBright will be running title checks automatically at quote creation, before the credit assessment for all base, direct pay, and municipal products with no changes to the new home and Valley qualification.

The credit and title split enhancement will allow sales representatives to verify title information upfront. The title contacts will automatically be pulled into the credit application. The autofill of the title contact information into the credit application ensures that contact names match accurately on the credit application and always include a title signer on the contract.

Valley and New Home Projects are exempt from this automatic title process. For these products, the title will be pulled at the time the Pre-Qual is run.

There must be a quote created for the credit/title split to work properly.

Title is not being run against a specific quote, the initial quote is triggering title to be run for all of EverBright products.

Step	Action	Reference

Step	Action	Reference
1	As the quote generates, it triggers the title to be run. Go to the Qualification Phase and the title should have run.
2	To run credit: Click on the ‘Action’ button at the top of the Qualification Phase and click ‘Run Pre-Qual’.
3	The installer will then choose the option to run the credit by email or in person.
4	The credit application will automatically be populated with the customer information from the Title.
5	Selecting “I am applying with a co-applicant” will pull in a second title holder, if applicable.

Discrepancies in Title

If there are any discrepancies in title, sales representatives will be able to address and correct any discrepancies before proceeding to the credit check. No matches from title pulls will still be able to proceed to the contract.

Changes for the Installer

The steps to complete the qualification will not change for the installer. However, the installer will now see buttons to manually cancel and re-run the title. Title is automatically run at quote creation, when the “Run Pre-Qual” button is selected, only credit will be run.

For issues regarding stuck qualifications (02/07/2024)

If an installer is stuck with an ‘Initiated’ status in the Qualification Phase, the installer should:

Go to the ‘Actions’ menu.

Go to the ‘Actions’ menu.

Cancel Title Run credit manually through the action's menu.

FAQs

Question		Script

Question		Script
1	How do I add someone to the credit qualification who is not on the title?	Each Applicant (Applicant and Co-Applicant) Must be in the Title. (Refer to the following Article)
2	How do I remove someone from the credit application who is on the title if they don’t want to be on the contract?	The credit application will be automatically filled with the contacts from the title report. The names are editable, so you can remove an applicant from the title report on the credit application.
Caution: At least one name on the title report must remain on the credit application and contract.
3	What if I spell the homeowner’s name incorrectly in the Contact phase?	This is not a problem. When you are ready to add a quote to the Contract (agreement) phase, the name that was submitted on the credit application is the name that will be automatically pulled into the contract to be sent via email to the homeowner by clicking “Send E-Sign”. You do not need to correct the spelling of the name entered in the Contact phase.
4	What is the difference between the Credit & Title Split and what we currently do?	Previously the title had to be run separately and at times, would slow down the process if the name on the contract didn’t match the name on the title. Now, the title is automatically run on quote generation to reduce the potential for mismatch of names on title, credit, and contract, and also reduce the need to correct these discrepancies with No Cost Change Orders (NCCOs).
5	If a co-applicant is not on the title, what is required for them to co-sign the agreement?	Each Applicant (Applicant and Co-Applicant) Must be in the Title. (Refer to the following Article)