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ComplianceEase Partners With Xerox Mortgage on Income Verification Solution

NationalMortgageProfessional.com
Apr 16, 2013

ComplianceEase has announced that it has integrated its income verification solution, 4506xpress with the Xerox Mortgage Services BlitzDocs intelligent collaborative network. The integration allows BlitzDocs users to verify mortgage applicants’ income documents and tax returns directly with the Internal Revenue Service (IRS); reducing mortgage fraud and fulfilling secondary market investors’ third-party income verification requirements within the BlitzDocs electronic loan folder (eFolder).  “We’ve been able to simplify our origination process by using 4506xpress to manage income verification on BlitzDocs, a platform we’ve been using for more than five years,” said Arlene Polifroni, senior vice president of branch operations for Universal American Mortgage Company, the financial services subsidiary of Lennar Corporation. “The Xerox BlitzDocs platform continues to help us make the loan origination process fast, easy and consistent for our customers.” The automated workflow gives BlitzDocs users a one-click process to submit IRS forms 4506-T and 4506-EZ, making borrower income verification quick and easy. Modernizing the loan process, ComplianceEase’s 4506xpress not only accepts electronically signed IRS forms but also performs an extensive set of compliance and quality control reviews before submitting to the IRS. The IRS transcripts are automatically uploaded to the BlitzDocs eFolder for review, storage and electronic delivery to secondary market investors. “Our 4506xpress service plays a critical role for BlitzDocs’ customers by verifying and mitigating risk prior to loan closing,” said Al Ogrodski, vice president of Solutions Strategy for ComplianceEase. “Thanks to our experienced team and automated IRS submission process, lenders usually receive income verification within 24-48 hours, helping them to make more timely and more confident closing decisions.”
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