Lenders can access CoreLogic's employment and income verification tech via Encompass
CoreLogic has partnered with Ellie Mae to save mortgage lenders time and money when processing borrower employment and income verification.
The company's verification and employment and income (VOE/I) technology is now available via the Ellie Mae Encompass platform. The integration enables mortgage lenders to receive both automated and manual applicant VOE/I directly from Encompass for added speed, efficiency and compliance.
CoreLogic's VOE/I tool features an ability to verify or re-verify borrower employment through all accepted methods (email, pay stub, or bank statement) per the updated Fannie Mae employment and income verification guidelines enacted in response to the coronavirus pandemic.
"At CoreLogic, we are laser-focused on innovating solutions to help clients reduce time, touch and cost of every origination," said Jay Kingsley, an executive at CoreLogic Credit and Borrower Solutions. "With this integration, CoreLogic has achieved a major milestone in our growth strategy for AutomatIQ Borrower and march toward the digital mortgage. We can now provide clients with access to our cutting-edge employment and income verification technology directly through the Encompass loan origination system."
In addition, the technology is also integrated with Fannie Mae's Desktop Underwriter validation service and offerings Day 1 Certainty and instant representations and warranties relief for all eligible borrower employment and income verifications.
"We are always looking for ways to offer lenders more value and digital mortgage innovation," said Parvesh Sahi, senior vice president of business development at Ellie Mae. "In today's landscape, especially, lenders are looking for solutions to help manage increased refinance demand, while also managing support for virtual workforces and consumer demand for online services."
