| TRV
(Tax Return Verification) Reports provide a
streamlined method of verifying a borrower’s tax information
by electronically comparing the income-related lines of the
borrower’s tax return with the same lines on file at the Internal
Revenue Service. This data can be obtained on any individual
or business that has authorized the release of this information
in connection with an application for credit or a similar consideration.
Any variations uncovered are highlighted in an easy-to-read
report. TRVs offer further protection against fraud by including
verification that the applicant’s information matches Social
Security Administration and IRS files. In addition, the TRV
cash flow analysis can be updated to complete all calculations
for the underwriter with IRS-validated data, assuring lenders
that the original IRS figures have not been manipulated. To
obtain a TRV electronically, a lender or mortgage broker simply
needs to receive authorization from the potential borrower.
Additional fraud protection is also available through the
use of Total ID™, Credit Plus’ comprehensive identity verification
and application analysis service. By comparing application
data to multi-source databases, Total ID is able to provide
the information necessary to make decisions. |
