Equifax announced that it has significantly enhanced its retro income verification service, Point In Time™, and integrated it with its Spectrum™ Verification Services Platform, providing lenders and servicers a comprehensive tool to reduce repurchase requests by delivering the most current and accurate loan-level verification of a borrower’s employment and income at the time of loan origination.
Point In Time serves as an important tool by delivering timely and precise income data to confirm original verification information. Using a custom, automated workflow designed to capture and reuse employer data by tracking and documenting agent progress and findings, the service quickly verifies a borrower’s income at the point of loan funding without compromising data security. Point In Time then documents and archives all information obtained during fulfillment to ensure accuracy and completeness.
Source: Equifax Press Release
