What is this stipulation? (OOW)

• As part of Sunlight’s Know Your Customer requirements, a borrower and co-borrower may be required to call in and verify their identity if Sunlight is unable to validate their identity using third-party verification services (such as LexisNexis®) and/or there are fraud flags (such as Social Security number stipulations) on their account.

​How does this stipulation get resolved?

• To clear this stipulation, Sunlight must complete an identity verification phone call with the customer in private and without any assistance. The sales representative may not be present in a three-way conference call.
• If a borrower needs to address this stipulation, they will need to respond to certain questions regarding their credit report and verify that the email address used to sign the loan agreement belongs to them and they have access to that email. A Sunlight representative will ask the borrower to verify three accounts or “trades” from their credit report as well as the credit limit, the remaining balance, or minimum monthly payment on those accounts.
• The identity verification must be completed by both the primary and co-applicant. 
• If the borrower is unable to complete the identity verification, please refer them to Experian at (888) 397-3742 and ask that they call Sunlight when they are ready with the necessary information.

Acceptable Account Information:

• Mortgage Accounts: Mortgages.
• Revolving Accounts: Credit cards and department store cards.
• Installment Accounts: Auto loans, personal loans, or student loans.
• Credit Limit/Amount Financed
• Balance
• Minimum Monthly Payment