Don’t leave tax transcript analysis up to interpretation
Leave it up to FACTCheckTM
Introducing FACTCheck, a comprehensive “fact checked” report you can add onto your IRS 4506-T order that brings a whole new level of consistency and accuracy to your tax transcript analysis process.
- Provides an overview of all income reported to the IRS, including wage, investment, retirement, rental, self-employment, farm, alimony and alternative income
- Calculates and summarizes historical income and determines income stability
- Tests for ATR compliance and provides a full rationale
- Identifies further action and any additional supporting documents that are needed
Nothing gets lost in translation with FACTCheck
By streamlining the process into an auditable format, you’re able to speed up, standardize and document your underwriting process. FACTCheck can help improve your income quality analysis/results and reduce your legal and repurchase risks by:
- Empowering your underwriters to update calculations with documented explanations while preserving source data
- Providing uniform documentation that shows how income was derived, speeding future QC and due diligence review
- Accelerating your process to just minutes per loan
- Eliminating manual underwriting errors
- Assisting with sale of loans to the secondary market and follows the file forever to show due diligence was performed
- Flagging issues needing detailed underwriter explanation
- Fully documenting underwriter’s exception rationale
- Preserving QM Safe Harbor evidence
Add FACTCheck to your 4506-T orders today!
Click here to request more information about FACTCheck from your Regional Account Executive.
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