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Ellie Mae Strengthens Identity, Employment And Income Verification Services

Ellie Mae has made enhancements to Encompass Consumer Connect that include identity, employment and income verification. These enhancements help lenders engage with homebuyers and provide a more streamline application process to help foster interest, engage borrowers and convert opportunities.


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The enhancements include the integration of Experian’s CrossCore platform, which enables lenders to use a passive, multi-layered approach to establish identity and assess risk, providing a positive experience for borrowers. Mortgage lenders can combine historical data, such as demographic information, and first-party fraud risk assessment with step-up authentication methods to verify an individual during the application process. Upon submission of the loan application, the data is immediately sent to the identity verification provider and a report is generated and sent to the Encompass® eFolder within one hour of submission.


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Since the launch on July 9, 2018, Encompass Consumer Connect continues to add key functionality which now includes support for Verification Services that provides lenders the ability to automate borrower identity, employment and income verification to achieve Day 1 Certainty from Fannie Mae to close loans faster.


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In addition to providing a seamless digital experience for homebuyers, Encompass Consumer Connect helps lenders close loans faster. Since the launch of Encompass Consumer Connect, Ellie Mae has seen significant momentum including more than 500 clients with more than 2,000 unique sites and more than 140,000 applications in progress. Some lenders are seeing a three-day reduction in turn times from application to underwritten loan.

“At Experian, we are constantly innovating to modernize the mortgage process and support the industry’s evolution,” said Michele Pearson, general manager of Experian Mortgage. “We’re proud to work with Ellie Mae to maximize the power of data and analytics to more quickly and accurately authenticate prospective borrowers, while helping businesses make smarter lending decisions.”

Encompass Consumer Connect gives Ellie Mae Encompass lenders the ability to offer a consumer web experience that goes beyond a mere online application. It is truly a state-of-the-art, completely customizable, branded and engaging digital mortgage experience for homebuyers – accessible from any device.

“Lenders are looking for more efficient ways to engage homebuyers and with these updates to Encompass Consumer Connect, we’re making it easier for borrowers to complete their loan applications,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “Our recent enhancements to Encompass Consumer Connect offer identity, employment and income verification and an integration with Experian that simplifies and expedites key verification activities for an improved borrower experience.”

Credit Interlink Integrates Income Verify With LendingQB For Faster Verifications

Credit Interlink, a provider of SaaS mortgage origination technology solutions, has integrated its Income Verify, with LendingQB, a provider of SaaS loan origination technology solutions, to facilitate quicker and more efficient 4056-T verifications.

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Thanks to certification through Fannie Mae’s Day One Certainty, Income Verify has direct access to tax transcript verifications through the IRS in order to expedite the time needed to process requests within LendingQB’s LOS. Likewise, the solution better prevents the risk of fraud through its secure interface, creating a more cost-effective way to collect borrower data.

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“In a world growing more dependent on digital technology, borrowers have come to expect the lending process to replicate experiences they experience in other areas,” said Mark Yoder, Vice President of Business Development, Credit Interlink.  “With Income Verify, borrowers are able to provide their information up front and loan officers are able to verify it without adding unnecessary delay to the origination process, all in a secure manner.”

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LendingQB’s web browser platform provides mortgage lenders with core LOS capabilities using modern web-optimized technology, enabling robust integrations to other web platforms such as Credit Interlink. Using LendingQB’s API framework, Credit Interlink is able to extend the capability of lenders, expediting the origination process and allowing more direct interaction with borrowers and other parties to the loan.

“Credit Interlink’s streamlined approach to data verification, credit and fraud is innovative and perfectly fits the ever-changing mortgage industry,” said David Colwell, vice president of strategy at LendingQB. “By utilizing Income Verify, our lenders are able to verify borrower data in a fast and safe manner, enabling them to reduce the time needed and the overall cost to originate loans.”

Pair Use Technology To Enhance Verifications

MeridianLink is now offering employment and income verifications through Equifax’s The Work Number for customers using its Mortgage Credit Link Platform (MCL). The Work Number is a proprietary database owned by Equifax Workforce Solutions, a business unit of Equifax Inc.

As a centralized, Web-based mortgage credit reporting system, MCL integrates its customer’s credit systems with their client’s loan origination systems, providing the seamless transmission, validation and interpretation of data between applications and organizations. By optimizing Equifax Verifications Services’ full range of tools, and leveraging The Work Number® database of more than 241 million employer-direct payroll records, MCL enables credit resellers to deliver the most comprehensive employment and income database in the nation to their lender customers.

“Employment and income verification plays a critical role in originating quality loans. It is also essential that proper documentation be validated and revealed quickly and accurately,” said Equifax Senior Vice Presidents Michael Kuentz and Craig Crabtree. “Combining MeridianLink’s centralized and robust mortgage platform with The Work Number database delivers maximum efficiency across the entire lending industry.”

“MeridianLink is excited to have this integration as an enhancement to our current platform,” said Jason Domazet, Business Development Manager, MeridianLink. “We continue to strive to provide our clients integrations that are an efficient means to order products from a centralized platform for our end users.”

Lenders Are Getting It

If you think that lenders aren’t taking compliance seriously enough, you’re wrong. And if you think lenders aren’t turning to technology more to verify their loans, once again you’re wrong. Just consider that Equifax has, for the first time ever, processed more than 34 million instant income and employment verifications in one year. This is a near 40 percent increase from last year, highlighting a significant accomplishment for Equifax Workforce Solutions.

“Passing the 34 million mark is a great milestone for job-seekers, loan applicants, consumers needing government assistance, and employers around the country, as well as for Equifax,” said Craig Leabig, Senior Director of Product Management, Equifax Workforce Solutions. “It takes time and resources to track down an applicant’s employer, contact that employer and wait for the response. We simplify the process for applicants across the country by providing income and employment data instantly through The Work Number® service. Additionally, we leverage our extensive relationships with Human Resource departments at thousands of employers to streamline manual verification delivery when an applicant’s information is not available instantly through our database.”

Established in 1995, The Work Number® service has seen steady, consistent growth, with more than 70 percent of the Fortune 500 outsourcing their employment and income verification functions to Equifax Workforce Solutions. The Work Number® serves more than 3,000 employers nationwide and has more than 230 million payroll records under management. It is used not only by lenders but also by federal, state and local government agencies to maintain integrity various social service programs.

The Work Number is fully compliant with the federal Fair Credit Reporting Act (FCRA), and as such requires that:

  • All verifier clients are credentialed
  • A permissible purpose be provided for every verification request
  • The employee-consumer has the ability to view their data file
  • The employee-consumer has the ability to dispute data errors

The Work Number goes beyond FCRA, however, requiring not only permissible purpose but also consumer consent for the release of income or salary information.

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