COSTA MESA, Calif. - Strategic Mortgage Services has completed testing of a nontraditional credit report in cooperation with Fannie Mae, GE Capital Mortgage Corp., and a group of lenders.

The report was developed to help home buyers with low and moderate incomes obtain loans efficiently. Often, traditional mortgage information is not available for them.

Previously, a loan officer would have to spend considerable time researching the applicant's payment history. The nontraditional report provides the necessary information in a readable format, the company said.

The process generally takes less than four business days.

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