Mortgage
3rd Party Verifications - Ensuring Compliance and Mitigating Risk
To keep pace with unprecedented regulatory and financial change, you need the expertise of a trusted partner who can deliver a 360 degree view of your borrower’s current financial situation, in one stop.
The Mortgage Industry has been inundated with federal consumer protection mandates and investor risk mitigation guidelines that are shaping the “new normal” in lending. Underwriting guidelines will continue to evolve, but a new mantra of INDEPENDENT, 3rd PARTY VERIFICATION is here to stay: verification of “ability to pay” (Dodd Frank Bill) and verifications of identity, borrower occupancy and undisclosed debt (Fannie Mae Loan Quality Initiative).
These changes in process and policy require lenders to produce independent loan level documents and use fraud prevention tools to ensure compliance and mitigate risk, on all borrowers, prior to funding. To implement the new underwriting standards, 3rd party providers can lend significant expertise and variable cost flexibility that the mortgage industry needs.
With The Work Number, Mortgage Technology's 2010 Fix It Award Winner, you can rapidly and easily obtain income and employment verifications on any individual, including those with self-employed income. For additional transparency, we provide tax transcripts, deposit and asset verification, and identity verification. The ability to completely outsource your verification needs is now obtainable, with The Work Number.
Products:
Employment Verification
Employment & Income Verification
Reverify – Closing Verbal VOE
Point In Time™ – Retro Income Verification
IncomeChek ® - 4506-T Tax Transcripts
DirectChek ® - Identity Assessment & Authentication
The Work Number Alert – Portfolio Monitoring
The Work Number Select – Portfolio Segmentation
Employment Indicator – Portfolio Segmentation
