One Transaction. Two Reports. Instantly. Integration with The Work Number database Offers New Efficiencies
Equifax (NYSE: EFX) continues to offer mortgage lenders innovative ways to drive digital efficiencies into the origination process with the latest addition to its suite of enhanced mortgage solutions designed to help mortgage bankers and brokers better accommodate co-borrower applications. Mortgage Duo, permits credentialed mortgage lenders, with permissible purpose, to leverage a single transaction through The Work NumberⓇ database to return instant verifications of employment and income for joint applicants.
Many mortgage loans for single family homes involve co-borrowers; and the October Mortgage Bankers Association (MBA) Forecast anticipates that home loans will maintain a positive trajectory into 2021. Recognizing the need, trend and opportunity to facilitate both lender and borrower requirements, Mortgage Duo eliminates the need for a lender to place individual orders for each borrower’s report.
The launch of Mortgage Duo further demonstrates the Equifax commitment to turning insights into action, recognizing trends in the market and tapping into its differentiated data assets to help reveal more opportunities for consumers and businesses of all sizes. Powered by The Work Number database, the industry-leading, centralized commercial repository of income and employment information in the U.S., Mortgage Duo joins a suite of mortgage verification products and services intended to give lenders, with permissible purpose, the automated verification options they need to help meet consumer demand for a seamless, low-friction, digital lending experience.
Source: Equifax Press Release