What is this stipulation?

• Borrowers can place an alert on their credit report called a security statement, which requires Sunlight to confirm the applicant’s identity and confirm they intend to apply for credit.

​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 complete the Security Statement Present (“SSP”) 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 call 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