By Celeste Rearick
In case you missed it, watch BeSmartee webinar participant Ashley Wood from Equifax Workforce Solutions as she and other mortgage industry experts discuss the importance of digital verifications of income and employment (VOIE), and how lenders and consumers can benefit from having a VOIE solution integrated within a mortgage point-of-sale (POS). You can listen to Ashley address the following topics (video timestamps included):
2:39 - How lenders can reduce VOIE time and costs by up to 75% by moving VOIE to the top of the funnel
7:48 - How does each partner’s solution contribute to the overall objective of reaching up to 75% cost/time savings?
12:41, 14:30 - When using an instantaneous D1C approved report, is a Form 1005 still required?
20:00 - How does each partner’s solution ensure accuracy of income and employment on first pull and into closing and beyond?
23:31 - What is the average or expected “hit rate” of receiving applicant income/employment information vs the applicant's information being unavailable in the database?
32:11 - If VOIE automation fails, what are new options available today that go above the traditional and manual verification process that is slow and costly?
35:32 - What are the differentiating value propositions across each VOIE partner’s solution?
To watch the entire webinar click here.