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Verification of Hazard Insurance

An efficient and cost-effective means to verify that homeowners' insurance is in-force

Product Overview

Produce quality loans and save time with electronic delivery of homeowner's insurance documentation

A Verification of Hazard Insurance (VOHI) from Equifax provides an efficient and cost-effective means to verify that homeowners' insurance is in-force and, if requested, the mortgagee clause is added to the insurance policy of the subject property. Using an applicant-provided insurance agent name and phone number, our team of verification specialists will:

  • Contact the agent or company to confirm insurance coverage and, if requested, ask that a new mortgagee clause be added to the policy.
  • Confirm insured name of policy matches insured name provided.
  • Validate the data against the loan information to ensure the policy is for the property address submitted and the insured name matches the applicant.
  • Verify important policy details, such as policy number, policy period, dwelling amount and premium amount, are present.
  • Confirm updated mortgagee clause matches mortgagee clause and loan number provided by lender (only if option is chosen)
  • Return to you a current declarations page with correct loan number and, if requested, mortgagee clause.
     

Third party verification of insurance helps you mitigate fraud, meet compliance and minimize processing time and expense.  Equifax Verification Services provides a single vendor, single platform solution for all of your verification needs, including insurance.

 

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