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Third Party Verifications
Verifications have been a mandatory function for financial institutions throughout the loan process for some time now. Third Party Verifications address the growing need of lenders, servicers, and financial institutions to obtain an unbiased verification of information accurately, efficiently, and with variable expense.
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Verification Services:
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Social Security Number:
Verify whether a name and Social Security Number combination match the data in Social Security Administration’s records.
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Tax Return:
Ensure that income-tax data submitted by your loan applicants are accurate and free from fraud.
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Employment:
Confirm a borrower’s employment status as well as length of employment, salary, and position.
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Deposit:
Review assets prior to approving a loan. Find out how long the account has been open, account standing, account balance and overdrafts.
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Mortgage:
Mortgage payment history, balance and monthly payment amount for an existing mortgage.
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Rent:
Assess the ability of the borrower to make a monthly mortgage payment based on the monthly rent payment history.
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Lease:
Determines the outstanding liability of a renter to a landlord.
Insurance:
Determine coverage for an asset or act.
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