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Reverification

A closing employment verification that keeps you compliant

Product Overview

Closing verifications made simple

Verifying a borrower's employment just before loan closing has always been a good lending practice, but now, increasing regulation in some industries has elevated it to a 'must complete' step before funding. Reverification from Equifax simplifies the process.

How it works:

  • If you have previously completed an employment or income verification using Equifax Verification Services, simply login to your account and click the Reverify Now button on the order page from the original verification.
  • If the original verification came from one of the more than 3,300 employers that maintain employment and income data onThe Work Number® database, you will immediately receive confirmation of the applicant's employment status.
  • If the original verification was manually completed with a researched verification, a verification specialist will quickly reach out to the applicant's employer to receive a verbal verification of employment (VVOE) on your behalf.
     

Reverification from Equifax simplifies and speeds up the delivery time of the verifications you need in order to close business quickly, streamline your processes and reduce your risk.

Benefits of using Reverification from Equifax:

  • Ensures consistency, conformity and compliance for closing employment verifications
  • Eases the administrative burden by centralizing the underwriting VOE and closing VOE process
  • Reduces fraud and borrower misrepresentation
  • Fannie Mae 1005 compatible
  • Ease of use - requires only four-digit SSN and reference number

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