A new integration into the Mortgage Builder loan origination system allows users to order CoreLogic income verification services directly from the LOS.
CoreLogic, Santa Ana, Calif., said using the integration is faster and easier for lenders to submit 4506-T forms to the Internal Revenue Service for income verification purposes instead of using an online ordering website.
Verifying income based on the borrower's tax return data is an important fraud detection tool, but can be a time-consuming part of the underwriting process because the IRS requires the form to have the borrower's wet signature, rather than electronic signatures like other borrower application and disclosure forms.
Southfield, Mich.-based Mortgage Builder's technology is geared toward small- to midsize-lenders and has other integrations with CoreLogic's credit report and flood determination services.
“This expanded product offering, accessed directly and easily from the Mortgage Builder platform, supports our objective for setting a new standard in convenient, single-source access to advanced data solutions that help streamline the loan origination process for our customers,” said Keven Smith, Mortgage Builder president and CEO.
