Vendor Anticipates 4506-T E-Signing Will Improve Rejection Rates

The new ability to electronically sign the Internal Revenue Service’s 4506-T form is expected to both improve quality control and efficiency by reducing rejection rates as it did in a trial run.

When it comes to what is holding up the document, which is used to authorize IRS verification of borrower tax information in originations, “lenders are going to know much faster,” Chuck Burke, COO of National Credit-reporting System Inc., told this publication.

Curt Knuth, EVP, NCS, told this publication that this is why the IRS approval of the e-sign process earlier this month is likely to improve both accuracy and speed of the 4506-T process.

NCS provides e-signatures through a partnership with eSignSystems.