Provides available income and employment records dating back 90-days from the request, as well as available inactive records going back 24 months ( up to 4 verifications with the same filters (VOI or VOE) included).
Best For: Verifiers needing multiple income and/or employment verifications during loan origination.
Provides available income and employment records dating back 24-months from the request, for a borrower and co-borrower (active and inactive records). Includes an additional VOI or VOE for both borrowers.
Best For: Verifiers needing to obtain income and/or employment verification for a borrower and a co-borrower.
Provides available income and employment records dating back 24-months from the request, for a borrower (active and inactive records). Includes up to 2 VOI or VOE, plus 1x manual VOI/E, and IRS Transcript (4506-C).
Best For: Verifiers who may need to verify income and/or employment from multiple sources (for one borrower).
Provides available income and employment records dating back 24-months from the request (active and inactive records). Includes up to 2 VOI or VOE, plus 1x manual VOI/E, and IRS Transcript (4506-C) (for a borrower and a co-borrower).
Best For: Verifiers who may need to verify income and/or employment from multiple sources (for a borrower and a co-borrower).
Provides available income and/or employment records dating back 60-days from the request, as well as available inactive records going back 24 months.
Best For: Verifiers wanting the most recent income and/or employment records, and access to historical payroll data.
Delivers all available active and inactive records associated with a potential borrower for a verification of employment and/or income.
Provides a 12-month view of a borrower’s income and/or employment history (active and inactive records).
Best For: Quick processing of creditworthy borrowers who require limited income and/or employment history to gain approval.
Provides a 24-month view of a borrower’s income and/or employment history (active and inactive records).
Best For: Verifiers needing to obtain the 2 years of available income and/or employment history data required by standard Government-sponsored Enterprises (GSE) guidelines.
Provides available income and/or employment records dating back 36-months from the request (active and inactive records).
Best For: Helping verifiers with loan decisioning, underwriting and/or risk decisions related to a more complicated consumer income profile.
Provides a 60-month view of a borrower’s income and/or employment history (active and inactive records).
Best For: Supporting verifiers with loan decisioning, underwriting and risk decisions for highly complex consumer income and/or employment profiles.
Provides available active employment records dating back 60-days from the request.
Best For: Verifiers needing employment verification tailored specifically for loan closing.
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Equifax Verification Services helps organizations verify applicant or borrower employment and income information. Products made possible via The Work Number database include mortgage verifications that provide proof of income and employment for mortgage lenders. The employment and income records on The Work Number database are made available to us by more than 2.5 million small, medium and large employers nationwide and are updated each payroll cycle. The Work Number database can be accessed by logging into a The Work Number account, via batch file upload or through system-to-system integration.
The information on The Work Number database is provided by nearly 2.5 million employers who rely on Equifax Verification Services to fulfill income and employment verifications on behalf of their employees. These verifications are used to provide consumers with access to the credit and services they deserve.
Each record available via The Work Number describes an individual’s employment with a specific employer. The Work Number currently provides access to more than 119 million active records, and growing. One person may have multiple employment records on the database. For example, if someone has held several jobs, there may be records of employment with multiple employers, including current and previous employers.
Mortgage lenders often use The Work Number for income and employment verification for mortgage origination financing. Equifax Verification Services offers several solutions that include proof of income for mortgage that are ideal for key milestones throughout the lending process. For example, the Mortgage Ultimate solution includes the initial income verification and up to (3) additional verifications with the same filters (VOI or VOE) within 90 days. There are also solutions that are ideal for the account review process that may rely on income and employment verification after closing.
Equifax receives new information directly from employers' payroll systems on a per-pay-period basis — each time an employer runs payroll. Employers send us information in a secure, specified file format at specified time intervals. That information is instantly loaded into Equifax employment and income database, The Work Number. This helps ensure that current information, as provided by employers, is available to credentialed businesses that need help verifying employment for a mortgage or other types of lending.
SUCCESS STORY The Equifax team was very proactive and innovative in defining a solution for our manual VOE needs. They took the time to understand our needs and then they launched a well designed and executed plan with no surprises. The Equifax team did exactly what they said they would, delivering a quality and cost-effective solution.
The Equifax team was very proactive and innovative in defining a solution for our manual VOE needs. They took the time to understand our needs and then they launched a well designed and executed plan with no surprises. The Equifax team did exactly what they said they would, delivering a quality and cost-effective solution.
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