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Point In Time

Retro employment and income verifications to ensure due diligence was performed at loan closing

Product Overview

A look back at employment and income—directly from the employer

As cited by Fannie Mae, income misrepresentation is one of the top reasons for poor loan quality. In order to defend against repurchase and to ensure due diligence was performed during the underwriting process, you need the ability to verify borrower employment history and income at the time the loan was closed.

Point In Time™, from Equifax Verification Services, directly addresses market demand for verified income and employment history to perform a post-close audit or to investigate loan repurchases and mortgage insurance rescissions.

Point In Time:

  • Leverages The Work Number® database of more than 238 million employment records from over 3,300 employers nationwide
  • Validates the borrower's employment status and payroll income information—back seven years or as requested
  • Ensures the loan file matches the borrower's employer information
     

A Point In Time verification is the right tool when a loan file review shows missing elements, or when quality control efforts need to authenticate the existing documentation. As the market leader in employment and income, our expertise and automation can provide immediate relief to your repurchase demands.

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