When delinquent borrowers have become unresponsive or untraceable, locating them is crucial for your recovery efforts. That’s why LoanPro is integrated with idiCORE to support your debt collections processes. This integration allows you to gather up-to-date contact information from various sources, improving your ability to recover delinquent loans.

This article will guide you through setting up and using the idiCORE integration within LoanPro. To start, here’s an overview of the process. 
 

Setup and configuration

First, you’ll need to sign up with idiCORE directly. Connect with your regular LoanPro contact, and they can help you get started. 
 

Integration setup

Once signed up, idiCORE will give you the following information, which you should pass back to LoanPro:

• Client ID
• Client Secret

idiCORE provides various types of public records and database information, including social media and/or online presence, financial records, automotive records, and driver information. It follows strict legal guidelines when pulling information, like the Gramm-Leach-Bliley Act (GLBA), to protect financial data and the Driver’s Privacy Protection Act (DPPA)for driver and automotive information. This ensures that all data collected is handled securely and in line with federal laws. 
 

Configuration

Next, determine the specific conditions under which skip tracing should be triggered, such as the number of days past due or failure to verify an address. You can configure the query to be triggered by an event-based trigger or dynamic trigger. LoanPro will then set up the process in your tenant using the credentials and business logic you’ve provided.  

LoanPro ingests iDiCORE’s borrower response data and updates the customer’s record within your tenant. This process can involve either posting a new note or updating an existing one to reflect the latest borrower information. Each of the following field names requires a designated note category. Clients can choose from the fields listed below:

• ssn
• name
• dob
• address
• email
• ip
• employment
• business
• phone
• bankruptcy
• death
• property
• criminal
• motorVehicle
• judgment
• lien
• aircraft
• foreclosure
• professional
• relationship
• social
• arrests
• arrestWatch
• tracePerson
• traceCriminal
• sanctions
• sameSsn
• relatives
• relationshipDetail
• multifamily
• fraud
• derived
• correlations
• associates
• company
• blobs
• addressCounties
• addressCities

Skip tracing process

The details may vary depending on your configuration preferences, but the general process follows these steps:

1. When the conditions are met, LoanPro sends a query to idiCORE, including the borrower’s name, SSN, and other relevant details. 
2. idiCORE returns the most up-to-date information available. LoanPro then updates the borrower’s profile with the new information, which you can access in the customer notes section: Users > Customer Manager > [Customer Name] > Customer Notes. Or you can navigate to Loan > Search: [Customer Name] > Customer > [Customer Name] > Customer Notes.
3. Whenever new information about a loan is available, we will post an updated note that includes both the new details and relevant details from previous notes. This way, all loan information stays consolidated in one place.

By leveraging LoanPro's partnership with idiCORE for skip tracing, you can improve your recovery rates while maintaining operational efficiency and compliance.