CoreLogic has announced an enhanced Verification of Employment and Income (VOE/I) product. The comprehensive new VOE/I product takes time, touch and cost out of traditional employment and income verification through a three-step “waterfall workflow” process, ensuring that every mortgage applicant can be verified.
An inefficient applicant verification workflow can cost lenders time and money. The enhanced VOE/I product features a three-step waterfall workflow that ensures each borrower’s employment and income is verified as efficiently as possible.
- Step 1: Instant verification via a direct integration to The Work Number (TWN)
- Step 2: Automated verification leveraging dozens of third-party data sources
- Step 3: Manual verification by a team of dedicated CoreLogic verification experts
“We are excited to announce this enhanced Verification of Employment and Income product,” says Jay Kingsley, executive, CoreLogic Credit and Borrower Solutions. “No matter how lenders currently verify applicant employment and income, we believe this product will help them do it more efficiently.”
In addition to the waterfall workflow, the enhanced VOE/I product offers an easy to use interface with real-time tracking and detailed status labels to better understand where each submission stands.
VOE/I is part of the larger CoreLogic AutomatIQ™ Borrower digital mortgage solution. Launched last September at the Digital Mortgage Conference, AutomatIQ Borrower is designed to help lenders transform their current mortgage underwriting workflows by digitizing, automating and streamlining borrower analysis and verification so they can originate quality loans faster.
For more information, please visit www.corelogic.com.
