Mortgage Solution Enhancements

Employment & Income Verification Solutions – Tailored for Mortgage

In today’s digital world, consumer expectations have evolved.  They expect a fast and frictionless mortgage process that’s highly automated and nearly effortless.  To help our clients keep pace with these expectations, Equifax is offering enhanced employment and income verification options tailored specifically for mortgage lenders’ needs.  These solutions address specific stages of the mortgage origination lifecycle.

By selecting these premium solution enhancements, you can now get re-formatted reports that include data sets within more precise time frames designed to better align with various stages of the mortgage origination process.

 

Lifecycle Stage: End-to-End
Mortgage Ultimate is a premium solution enhancement that provides you with up to 4 verifications – an initial income verification and up to three additional re-verifications of income or employment data within 90 days. For one flat fee, Mortgage Ultimate allows you to forecast your verification cost as well as print a receipt. Designed to be used at various points throughout the mortgage origination lifecycle, Mortgage Ultimate provides precise, actionable data, while filtering out all data that is older than 24 months.

Lifecycle Stage: Underwriting
Mortgage Preferred is designed to deliver the income data you need for underwriting. It is a premium solution enhancement that returns income records from current employers, filtering out any current employer older than 60 days. It also delivers records from previous employers within 24 months – all for one all flat price. Mortgage Preferred also comes with a printable receipt option.

Lifecycle Stage: Pre-Close
Employment Select is a premium solution enhancement that returns only active records within the last 60 days, for one flat fee. Designed to re-verify someone’s employment just prior to closing, and you can print a receipt  for this transaction.