—Integration Provides Seamless Income Verification on DU Platform—
IRVINE, Calif. — (BUSINESS WIRE) — July 31, 2017 — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that, effective in early August, it will have fully integrated its leading 4506-T income verification product with Fannie Mae’s Desktop Underwriter® (DU®) platform. Mortgage lenders will be able to access these verification products as part of the DU validation service, providing automated access and rapid representations and warranties relief for validated loan components.
CoreLogic integration with DU delivers verification data that meets Fannie Mae’s underwriting requirements. This, in turn, provides more certainty in income calculation and asset verification while lowering the risk of potential borrower fraud through altered bank statements.
The DU verification service provides lenders with several benefits, including:
- Streamlined Loan Processing: Keeps lenders focused on exceptions.
- Dynamic Underwriting: Validates key loan data up front, provides more certainty on income calculation and asset verification, and confirms that the validated information meets Fannie Mae’s requirements.
- Process Efficiencies: Reverification is not required for assets, income, and/or employment validated in DU.
- Lower Fraud Risk: Lenders have lower fraud risk when data is gathered from the source.
- Freedom from Representations and Warranties: Day 1 Certainty gives lenders freedom from representations and warranties for validated loan components plus greater speed and simplicity, and enables an improved borrower experience.
“We are extremely pleased to be participating in Fannie Mae’s DU verification service. It represents the new standard for excellence, speeding up the workflow process and providing borrower convenience and lender reassurance,” said Eric Connors, executive, Mortgage and Credit Analytics for CoreLogic. “Given our position as a market leader in providing income verification products, we embrace the opportunity to continue to lead the market in turn times and quality control.”
For more information on how to participate in DU verification service and Day 1 Certainty, visit the CoreLogic DU verification service resource page at www.corelogic.com/day1certainty.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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