Skip to main content

CoreLogic Partners With Ellie Mae on Income Verification

NationalMortgageProfessional.com
Oct 10, 2013

CoreLogic has announced the availability of e-signature for lenders requesting income verification using the CoreLogic Credco 4506-T Direct product on Ellie Mae Encompass360, a widely utilized mortgage origination platform. The 4506-T Direct product includes actual IRS transcripts that identify false or inaccurate tax information, automatically compares borrower-supplied 1040 data with IRS data, and searches up to four years of IRS-verified records. CoreLogic Credco is the first to offer e-signature for 4506-T requests on the Encompass360 platform. The addition of e-signature is designed to help streamline the origination process by decreasing the amount of time it takes to advance a loan to underwriting. The IRS-filed 4506-T form is used by lenders to retrieve information that verifies a potential borrower’s income. Prior to the introduction of e-signature, Encompass360 users who submitted 4506-T requests had to obtain hard copy signatures from borrowers, often adding several days to the lending process. With the addition of the CoreLogic Credco 4506-T e-signature, lenders are now able to cut manual paperwork traditionally associated with income verification and reduce the time needed to submit a 4506-T request. “Anyone who plans to sell a loan to one of the GSEs needs to verify a borrower’s income with the IRS,” said Dave Ard, senior vice president for CoreLogic. “CoreLogic is always looking for ways to improve the origination experience for both lenders and borrowers. We are proud to be the first to offer 4506-T e-signature capability on the Encompass360 platform, a move that will help many lenders reduce paperwork and achieve greater workflow efficiency.”
Published
Oct 10, 2013
Crime Stories From The Trenches

Bad brokers, renegade Realtors, treacherous title agents. It’s getting tough out there.

Regulation and Compliance
Oct 26, 2021
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021