Accelerating borrower verification puts lenders on a proactive path to sustainable lending practices
Borrower employment and income verification is the bedrock of any lending decision. Therefore, accurate and complete information is the cornerstone of a lender’s verification process, which is why having access to tools like AutomatIQ™ Borrower Verification of Employment and Income (VOE/I) is essential for ensuring a seamless, data-driven process for both borrowers and lenders.
Verifying employment and incomes has historically been a rigid, administrative process with little room for deviation. However, in a world where employment conventions are evolving and borrower expectations around automation are accelerating, it is no longer sufficient to reactively tick a checkbox on a form. At the same time, many lenders find that navigating applications filled with incomplete income records and non-W2 employment records is challenging within the structures of the lending framework.
That is why AutomatIQ Borrower employs a waterfall approach. With its state-of-the-art, data-driven automation at its core, this unparalleled mortgage origination software provides quick, borrower-assisted verifications that accommodate for instances that require detailed manual examinations by experts.
Innovation Within Real Estate Begins With Lenders
The days of relying on borrowers to submit pay stubs or individually contacting employers for verification is now a relic of the past. Through seamless integration with trusted data sources like Experian and Equifax credit bureaus, AutomatIQ Borrower VOE/I propels mortgage lending into the modern era by eliminating the need for back-and-forth between lenders and borrowers.
Not only does AutomatIQ Borrower streamline the overall process, but it does so in a way that privileges data accuracy. AutomatIQ Borrower VOE/I revolutionizes verification accuracy by connecting lenders with a network of authoritative data sources that become partners throughout the process. With extensively covered, up-to-date payroll providers, lenders can access verified employment and income information with unparalleled precision to mitigate the risks associated with lending and bring confidence to each decision.
Such an innovative approach to lending is bolstered by AutomatIQ Borrower mortgage origination verification software, which fundamentally shifts the verification process from a reactive task to a proactive strategy that paves the way for a future with sustainable lending practices.
Enhance the Mortgage Lending Experience by Embracing Innovation
The mortgage lending landscape is an evolving one, and it is the responsibility of lenders to keep up in order to provide the service that borrowers expect. As automation evolves into an expectation rather than the exception, solutions like AutomatIQ Borrower will help you transform traditional processes into solutions that can deliver comprehensive results with ease, precision, and speed.