Integration Enhances Undisclosed Debt Verification

Credit Plus, a provider of intelligent insight for mortgage professionals, has integrated direct access to The Work Number employment verifications for its customers in Ellie Mae’s Encompass mortgage management solution. The Work Number is a solution offered through Equifax Workforce Solutions, a business unit of Equifax Inc., and is the largest collection of payroll records contributed directly from employers. In addition, Undisclosed Debt Verifications can now be ordered directly from Encompass. Undisclosed Debt Verification updates are available from every credit bureau and provide real-time monitoring into applicant credit activity from the initial credit file pull through closing.

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“By being able to access The Work Number and Undisclosed Debt Verifications directly from Encompass, our customers will have a more streamlined user experience that will ultimately save them time,” said Greg Holmes, National Director of Sales and Marketing for Credit Plus. “Lenders will be able to proceed with closings feeling confident they have a comprehensive picture of each borrower’s financial situation.”

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The Work Number database houses employment records contributed by more than 5,500 employers nationwide. It helps lenders make informed decisions by providing them with a fast, up-to-date validation of employment and income.

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Undisclosed Debt Verifications can be received from one, two, or all three credit repositories. These verifications provide Lenders with detailed information about new tradelines, inquiries, secondary reissues, bankruptcies, judgements, liens, collections, late payments, and more. They help reduce risk for costly loan buybacks and meet GSE requirements.

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.