Verification Firm Launches Stated Doc Program

Rapid Reporting Verification Co., Fort Worth, Texas, a provider of income and identity verification products to the mortgage industry, has introduced a Stated Doc Program that enables lenders to verify that a potential borrower filed an income tax return without having to verify the income.The verification company said it created the program after receiving numerous requests from customers to find a way to verify that a potential borrower filed an income tax return without requiring the customer to send documentation about the income. The Stated Doc Program also verifies whether the potential borrower filed certain schedules showing a self-employed individual's business income or an individual's share of trust or estate income. "The Stated Doc Program fulfills a need in the mortgage industry by giving lenders a way to verify that the borrower is straightforward enough to file a tax return even though the loan program does not require the borrower's income be verified," said Jay Meadows, Rapid Reporting's president and chief executive officer. The company can be found online at http://www.rapidreporting.com.