A new offering from ""CoreLogic"":http://www.corelogic.com/ is set to boost ""Mortgage Builder Software's"":http://www.mortgagebuilder.com/ programming, with the recent addition of a CoreLogic-driven verification component that will allow for the integration of tax return income. The product, dubbed 4506-T Direct, will be fully available through Mortgage Builder, providing users the ability to determine the integrity of an applicant's reported income directly through the Internal Revenue Service.[IMAGE]
Geared toward meeting the fraud prevention requirements like the third-party income verification that Fannie Mae demands, 4506-T Direct will assist lenders identify inaccuracies in borrower-supplied tax information. Mortgage Builder, an end-to-end loan origination solution, will give companies using the program faster processing of submissions, enhanced automation, greater quality control, and better data through the 4506-T Direct initiative.
CoreLogic's 4506-T Direct examines up to four years of IRS-verified borrower statistics, and the service is expected to result in more timely posting of transcripts and maximum IRS acceptance for mortgage originators.[COLUMN_BREAK]
4506-T Direct is the latest update to Mortgage Builder, which also includes integrated measures for three-bureau merged credit reporting and flood determinations.
Keven Smith, president and CEO of Mortgage Builder, said of the enhancement, ""The integration of 4506-T Direct significantly enhances our continued partnership with CoreLogic.
""This expanded product offering, accessed directly and easily from the Mortgage Builder platform, supports our objective for setting a new standard in convenient, single-source access to advanced data solutions that help streamline the loan origination process for our customers,"" he added.
CoreLogic's senior vice president of product management and analytics, Tim Grace, echoed Smith's thoughts on the partnership, saying, ""Our 4506-T Direct service plays a critical, proactive role in evaluating and mitigating risk prior to loan submission.
""With our fast, efficient IRS data submission process, lenders get income verification results faster, helping them make timely, more confident lending decisions,"" he said.
California-based CoreLogic has long been a strong force in analytics and services within the consumer, financial, and property information sectors; the company's clients include businesses and the government, giving both segments a data advantage by combining public, contributory, and proprietary data to facilitate critical decision making processes.