Accepted by Fannie Mae Day 1 Certainty™ Initiative

Regulations and investor requirements make it critical for mortgage lenders to have processes in place that enable them to monitor loan quality throughout the entire origination process and beyond. Specific requirements exist surrounding the reverification of qualifying documentation as part of a lender’s quality control plan. The requirements set forth by Fannie Mae, Freddie Mac, HUD and various investors are increasingly scrutinized and considered a critical component of an effective QC Plan.

In an effort to help our lender partners maintain compliance with all agency and government requirements surrounding post-closing quality control, Credit Plus is happy to provide standalone reverification processing. The process flow is very flexible and can be adjusted to meet each client’s unique needs and requirements.”

Credit Plus helps facilitate compliance. We are a certified reseller of The Work Number®, a solution offered through Equifax Workforce Solutions*, and the largest collection of payroll records contributed directly by employers.

Through The Work Number, we enable you to get fast validation of employment information and consumer income, if requested, so you can make informed decisions. The Work Number database houses millions of employment records contributed by employers nationwide, including 75% of the Fortune 500. This information is updated every payroll cycle, so you’ll always receive the most up-to-date information possible.

These employment and income verification reports are accepted by Fannie Mae Day 1 Certainty Initiative.

We do the work. You get less stress. Benefits include:

  • Accepted by Fannie Mae Day 1 CertaintyTM Initiative
  • Ensure compliance with Fannie Mae LQI requirements
  • Meet Ability-to-Repay and Qualified Mortgage Standards under the Truth in Lending Act (Regulation Z)
  • Reverify before a loan closes and during post-close review
  • Receive accurate consumer information
  • Control variable costs with a fixed cost per loan
  • Increase productivity by using an outside source for verifications
  • Reverification process is flexible and can be adjusted to meet lender's unique needs and requirements.

Re-verify employment

It’s easy to reverify employment just before closing to ensure that your applicant is still employed. All you need to do is access your account and click on the Reverify Now icon and the status of your applicant’s employment will appear, if the original employment verification was conducted through The Work Number. If the Credit Plus team originally conducted a manual verification of employment, our reverification experts will contact the employer again to re-verify.

 

*Equifax Workforce Solutions is a business unit of Equifax Inc., Atlanta, Georgia. Credit Plus is an authorized reseller of products and services provided through Equifax. The Work Number® is a registered trademark of TALX Corporation, a wholly owned subsidiary of Equifax Inc.

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Much more than just credit…we’re Credit Plus

Call us at 800.258.3488 or click here to request more information.

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*Equifax Workforce Solutions is a business unit of Equifax Inc., Atlanta, Georgia. Credit Plus is an authorized reseller of products and services provided through Equifax. The Work Number® is a registered trademark of TALX Corporation, a wholly owned subsidiary of Equifax Inc.

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