All Employers Within 90 Days™ Helps Lenders
Enhance Their Loan Processes
ATLANTA, July 25,
2024 /PRNewswire/ -- Equifax® (NYSE: EFX) has
launched a new solution, All Employers Within 90 DaysTM,
in support of its commitment to providing an extensive set of
verification solutions for the mortgage industry.
Powered by The Work Number®, All Employers Within 90
DaysTM allows credentialed lenders to verify a
borrower's income and employment information from the previous 90
days. Developed in response to customer feedback, the new solution
— which provides a narrow verification period — may be particularly
useful for situations when a borrower has been employed at the same
job for a long period of time and therefore employment records
beyond 90 days are not needed.
"Lenders have many choices when it comes to verifying income and
employment information, from in-house or consumer-provided options
to working with external companies," said Joel Rickman, Senior Vice President,
Verification Services, Equifax Workforce Solutions. "At Equifax, we
offer a variety of tailored verification solutions that were
developed specifically with mortgage lenders in mind. By offering
different types and levels of data at various price points, many
lenders are able to find an Equifax solution that meets their
specific requirements."
In addition to launching All Employers Within 90
DaysTM, Equifax has introduced modifications to its
existing All Employers Within 12 MonthsTM and All
Employers Within 24 MonthsTM offerings. Those
modifications support lenders with a smoother billing process for
those services, resulting in more aligned processing.
With these enhancements and modifications, lenders can choose
the solutions they need and the time frame that is most effective
for both the borrower and the lender, helping provide a faster time
to close and more lender flexibility. Each solution also benefits
from the industry-leading security capabilities of Equifax, helping
ensure that both borrowers and lenders can be confident their
information is protected.
"In today's mortgage market, our customers need solutions that
drive speed and reduce fallout," said Chris
Mock, Vice President, Mortgage Verification Services at
Equifax Workforce Solutions. "Lenders that utilize automated
mortgage verification solutions can better provide the type of fast
and seamless purchase process that homebuyers have come to expect.
And with the variety of solutions available from Equifax, lenders
can choose just the records they need to lend confidently."
Through The Work Number database, Equifax is the
industry-leading commercial source of consolidated employment
information in the United States.
This data can help credentialed verifiers with a permissible
purpose — such as mortgage lenders — instantly verify potential
borrowers' employment and income, enabling a streamlined mortgage
process.
To learn more about mortgage verifications or other verification
solutions powered by The Work Number from Equifax, please visit our
website.
ABOUT EQUIFAX INC. At Equifax (NYSE: EFX), we believe
knowledge drives progress. As a global data, analytics, and
technology company, we play an essential role in the global economy
by helping financial institutions, companies, employers, and
government agencies make critical decisions with greater
confidence. Our unique blend of differentiated data, analytics, and
cloud technology drives insights to power decisions to move people
forward. Headquartered in Atlanta
and supported by nearly 15,000 employees worldwide, Equifax
operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia
Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Dan
Jenkins for Equifax Workforce Solutions
mediainquiries@equifax.com
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SOURCE Equifax Inc.