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The Work Number® Report Indicator

Providing unique income and employment insights earlier in the mortgage loan process.
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Streamline Mortgage Lending with Confirmation of a Verification of Income and Employment (VOI/E) Record 

To simplify the mortgage application experience for borrowers and speed up loan processing, The Work Number® Report Indicator informs lenders early if an applicant has a standard verification of income and employment (VOI/E) record on The Work Number database. 

The Work Number Report Indicator is delivered on the front-end alongside the Equifax Mortgage Consumer Credit Report at the pre-qualification or pre-approval stage. 

This unique, early stage insight helps lenders:

  • Know upfront if an applicant has a standard VOI/E record on The Work Number database, which helps reduce documentation requests for borrowers.
  • Move from application and underwriting to loan closing faster and more cost-effectively based on the report indicator results. 
Accelerate the Path to Conversion 
Prioritize the borrower early in the process, while providing confidence in future debt-to-income ratio calculations.
Streamline Mortgage Processing
Efficiently segment borrowers for a faster, more efficient and predictable workflow.
Improve Cost Efficiency
Know upfront if an applicant has a standard VOIE record to help manage expenses and better predict cost to close.
Offer an Easier, Faster Borrower Experience 
Deliver a better customer experience by reducing documentation requests and creating a smoother approval process.
Gain a Competitive Edge
Leverage unique income and employment insights at prequalification to strengthen decision making, while also gaining deeper insight about risk.

Drive Cost-effective Verification with Upfront Insights

Mortgage lenders can more efficiently manage the lending process from application through closing by using The Work Number Report Indicator to gain early insight and confidence that a standard 36 month VOI/E record exists on the Work Number database. 

 

With this up-front knowledge, lenders can assess their ability to replace more manual paper-based verifications with automated, instant verifications to help: 

  • Minimize complications and delays  
  • Reduce and better predict loan closing costs

Integrate with Loan Origination Systems

The Work Number Report Indicator can be integrated into your existing workflows for seamless upfront insights.

Optimize Workflows with a More Cost-Effective Process

When lenders request a Mortgage Consumer Credit Report from Equifax, they can also obtain The Work Number Report Indicator to let them know upfront if an applicant has a standard VOI/E record. This facilitates faster, more cost-effective verification workflows and helps mitigate fallout applications that never make it to loan closing. 

The Work Number Report Indicator provides a yes or no flag that will provide confidence that a standard 36 month VOI/E is available for a borrower/co-borrower on The Work Number database.

Gain Verification Insights Faster

Instead of staring at an application full of unknowns, The Work Number Report Indicator delivered alongside the Mortgage Consumer Credit Report gives lenders instant insight into the availability of information regarding key borrower qualifications so they can reduce documentation requests and determine the fastest, most cost-effective path to loan closing. 

Frequently Asked Questions

It's designed for the prequalification and pre-approval stages. By receiving this indicator early, lenders can gain a more complete picture of a borrower’s financial profile—combining creditworthiness with employment status—before moving into formal underwriting.

Yes. By knowing upfront that a record exists, lenders can "fast-track" these borrowers, letting them know early on that they likely won’t need to hunt down paper documents. Conversely, if no record is found, the lender can ask for documents right away, preventing last-minute delays in the closing process.  

The response indicates whether a standard 36-month VOI/E report is available for the borrower or co-borrower.

Related Resources

Product Sheet 

Know More at Prequalification

Discover how the Work Number Report Indicator from Equifax® streamlines the mortgage
lending process. 
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