Credit Plus, a provider of reliable data and verifications for all stages of the mortgage lending process, announced today that it is an Authorized Report Supplier for its income and employment verifications which are now accessible through Fannie Mae’s Desktop Underwriter (DU) validation service.
“We are excited to join the ranks of vendors approved for this integration,” said Greg Holmes, Managing Partner at Credit Plus. “The automated accessibility of this data not only improves workflow efficiency, but it also gives lenders greater assurance that their borrowers are employed and their incomes are accurate.”
Electronic verifications of income and employment are available from Credit Plus through The Work Number, a solution offered through Equifax Workforce Solutions and the largest collection of payroll records contributed directly by employers. Manual verification of income and employment is also available ─ and to ensure the data is accurate, Credit Plus follows a uniform, auditable process which produces verifications in a timely manner. Re-verifications can also be performed just before closing to ensure that the applicant is still employed. These can be accomplished online if the original employment verification was conducted through The Work Number or manually.
The DU validation service streamlines and automates the origination process, eliminating unnecessary documentation requirements right from the start which helps increase speed, quality and efficiency while reducing the risk for errors. Lenders also obtain representation and warranties on validated loan components.