CL Verify LLC K. Anderson Issued Falsehoods Tampa, Florida

This post makes perfect sense as to what is happening with
CL Verify and their Loan Reporting. I am a lender who recently decided to do my
own investigation in the reports I was receiving from CLVerify. According to
Kim Anderson of CL Verify, "71% of all lenders are reporting", and
"soon we'll be 100%".He is wrong….this is very inaccurate.

Anyone looking at CL Verify's PDA report can see for
themselves.  In a random sample, over the
past 30 days, there were between 60 and 70 lenders pulling reports.  However, when you look at recently reported
loans, the count of creditors reporting any loans at all is 15.  And to top it off, the lenders that are
reporting are the smaller, lower volume lenders.  So CL Verify is getting very little data
contribution, despite the fact that they are telling lenders the contrary.

In addition, It also appears that they are plagued with
inaccurate reporting.  There seems to
continue to be a percentage of the newly reported loans that never have any
payment updates applied. So the loans show as open and current forever.  Any lender trying to evaluate the number of
current loans a consumer has cannot do it with CL Verify data. As I analyzed
the reports I found that I was denying a potentially good client because
CLVerify showed an open loan as far back as 2005 with no updated loan reporting
on the client. They are doing lenders a great deal of harm and charging for
this service to boot!

Now CLVerify is actually threatening to turn off clients to
the PDA report if they don’t report….they did me a favor in turning me off….I
saved my money, got more leads and I am no longer making decisions on bad
data!!