RealEC Technologies Inc. has launched new income verification services to its RealEC Collaborative Partner Network, the RealEC Exchange. The income verification suite, provided by Lender Processing Services' Applied Analytics group, enables lenders to validate a borrower's identity and verify the accuracy of income information provided during the application process. The borrower's income is confirmed directly with the Internal Revenue Service by uploading the signed IRS 4506-T form electronically through the RealEC interface. LPS Applied Analytics then securely delivers a report from the IRS.
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