Quantcast

CoreLogic Adds Equifax's Job Verification Tech to Its Own

APR 8, 2014 1:55pm ET
Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

CoreLogic has agreed to add Equifax's the Work Number platform to Credco, its verification-of-employment service.

The recent implementation of the qualified mortgage rule highlighted the need for third-party verification of mortgage applicants' employment and income, said John Bauer, CoreLogic's senior vice president for credit services, in a press release. Inclusion of the Work Number data into the CoreLogic Verification of Employment service "means that one in four requests will receive instant, up-to-date" borrower information.

The Work Number is one of the industry's largest collections of payroll records contributed directly from employers. Under the agreement CoreLogic will be able to automate the third-party verification of a loan applicant's employment status and income, and the delivery of loan data to mortgage professionals.

The Work Number offers mortgage professionals instant access "to nearly 220 million current and historical employment records," according to the release. It collects salary information directly from payroll databases on a weekly basis and maintains "data that is up-to-date as of the last pay period." The information goes back many years and includes length of employment, job titles, income and location information.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.