BasePoint Releases Borrower Income Verification Tech

Carlsbad, Calif.-based BasePoint Analytics has released new Web-hosted automation that enables lenders to obtain verifications of borrower income. Developed in response to lender requests for quicker turnaround on IRS 4506-T transcripts, the Income Verification Service includes a real-time tracking system for monitoring each transcript request and report, and gives managers the capability to view the status of all user transcript activity. Specifically, the service automates each step in the process to obtain the 4506-T report, with online data entry of the transcript request and automatic creation of the cover sheet. A system-generated e-mail provides instantaneous notification to the user when the transcript request is received and when the report is available, with a link directly to the report on BasePoint's secure system. The online tracking system allows requests and results to be retrieved at any time, with real-time monitoring for managers to check the status of all user transcript activity.