is now providing reporting services through Fannie Mae's Day 1 Certainty program
, including the newly approved Taxdoor platform, Chronos' proprietary automated tax return verification system for income verification, and the VODAchek asset verification system.
"This is a crucial step toward achieving Chronos Solutions’ goal of helping America's lenders originate more loans with greater confidence and less exposure to risk," said Chronos Solutions Chief Executive Officer Mark Hikel. "It is also an important differentiator, as it will make our service offerings for our lender customers even more comprehensive."
Taxdoor utilizes the Desktop Underwriter (DU)
validation service to add even greater capabilities to an automated, mobile-enabled transcript verification technology that was specifically designed to reduce IRS rejection rates by as much as 75 percent.
VODAchek provides lenders with access to instant, automated electronic bank statements with up to three months of borrower transaction details from 15,000 financial institutions through a secure, Web-based platform with flexible reporting tools.