Robust, real-time solution helps to streamline income and employment verification for mortgage loans

Lenders can simplify processing of high-quality mortgage loans — and close more of them. Today’s documentation process for mortgage approval may be best described as “rigorous.” The list of what’s needed to qualify for and process a loan stretches to 10 (or more) required documents — from an official photo ID (simple) to two years [Read More…]

Smart data strategies can help boost success of home equity marketing campaigns

The right mix of information can help increase loan conversions and customer satisfaction. Trends from two directions are driving interest in home equity loans. First, residential real estate prices have recovered enough for homeowners to once again consider tapping home equity to unlock the value of their homes without a sale. Second, financial institutions now [Read More…]

Lenders save time, money and frustration by simplifying hazard insurance verification

Engaging a specialized team can speed up the loan process and help reduce errors Verifying homeowners — or hazard — insurance is a time-consuming and costly task for mortgage and home equity lenders. But it’s also unavoidable. Making sure that proper hazard insurance is in place is as important to the loan process as verifying [Read More…]

Automated income verification adds confidence to complex mortgage-lending process

Solution helps improve income verification process for mortgage lenders and borrowers Want evidence that we learn from our mistakes? Look no further than the income verification process now used by mortgage lenders. Beefing up requirements for income documentation has helped reduce fraud and increase confidence in a borrower’s ability to repay a home loan. It’s [Read More…]

How Implementing A Champion / Challenger Trial Now Can Help Save Marketers in the Long Run

A Key to Agile Marketing is Refreshing Your Tool Box Lena Bourgeois, VP of the consumer markets group, IXI Services, a division of Equifax If you’re in the marketing industry, you may feel that marketers today are better equipped than ever, with more tools at their disposal than ever imagined. But marketers are only as [Read More…]

One Last Hurdle: Monitoring Undisclosed Debt Post-TRID

Equifax mortgage expert Rosie Biundo discusses the importance of monitoring undisclosed debt after the TRID three-day window in Mortgage Compliance Magazine As an industry, it’s vital to leverage innovation and technology to request data directly from the source (rather than from the consumer) and allow access to verified and authentic data to all stakeholders in [Read More…]

Benefits of a Trusted 4506-T Provider

Equifax has always been on the forefront of modernizing consumer data and income verification, from maintaining The Work Number® database of millions of income and employment records, to helping champion the policy for eSignature acceptance by the IRS on the Form 4506-T. The need to verify total income with the IRS using a Form 4506-T [Read More…]

Fannie Mae to Introduce Equifax Trended Credit Data and Verification Services Into Underwriting Platform

During MBA’s Annual Convention & Expo in San Diego last month, Fannie Mae announced that in mid-2016 it will begin incorporating Equifax trended credit data, as well as the company’s verified employment and income data, into its automated underwriting platform — introducing important changes to help strengthen the home mortgage market for both consumers and lenders. Fannie Mae [Read More…]

Visit Equifax at MBA’s Annual Convention & Expo 2015

MBA’s Annual Convention & Expo 2015 Oct. 19 – 21, 2015 | San Diego | Las Vegas, NV | San Diego Convention Center With higher customer expectations and increased regulations and costs for loan origination, mortgage lenders need access to data and technology solutions to help manage an origination process that facilitates regulatory requirements and [Read More…]

Credit Unions Leverage Turnkey Business Intelligence Solutions to Help Minimize Cost Associated with Portfolio Risk Management

Expanded data and technology-enhanced analytics enable overhaul of manual processes Efficiency is essential for today’s lenders. It’s not enough to have data, lenders also must process it smartly and swiftly to effectively manage portfolio risk, adhere to regulatory requirements, and identify growth opportunities. This is especially true for credit unions that are capturing an increasing [Read More…]