""Equifax"":http://www.equifax.com/home/en_us has enhanced its retro income verification service, Point in Time, and integrated it into the company's Spectrum Verification Services Platform, the Georgia-based company announced.[IMAGE] [COLUMN_BREAK]
The enhancements are designed to provide lenders and servicers a comprehensive tool to reduce repurchase requests by delivering the most current and accurate loan-level verification of a borrower's employment and income at the time of loan origination.
With the update, Point in Time allows lenders and servicers to place multiple employers with one order, search and manage orders by loan number, monitor and view other orders in progress, and order results in a ""batch"" format, among other things.
""As lenders and servicers aim to clear portfolios of non-performing loans, the ability to pinpoint the specific documentation needed to validate a loan is extremely critical to achieving success,"" said Anir Pradhan, senior marketing officer of Equifax Workforce Solutions. ""Enhanced and now fully integrated with our Spectrum platform, lenders and servicers have the tools to retroactively analyze loan-level data to ensure the appropriate handling of repurchase requests and reduce losses from unnecessary buybacks.""