Equifax Enhances Its Work Number Database With New Indicator
Equifax has announced that it is offering The Work Number Indicator, an instant alert of whether an employment and income record exists on The Work Number database.
The Work Number Indicator, delivered along with the credit report, proactively signals to lenders whether a borrower’s income and employment information is already available within Equifax’s U.S. database, which can help eliminate a tedious documentation process for borrowers, and significantly expedite the mortgage origination process for lenders.
“As the industry continues to move toward a more streamlined, technology-enabled origination process, ready access to verifications data like income and employment are key to ensuring that the process isn’t hindered,” said Craig Crabtree, Senior Vice President and General Manager of Equifax Mortgage and Housing Services. “When lenders use The Work Number Indicator, they are able to more efficiently manage their workflows, ultimately resulting in an improved experience for borrowers and lenders’ staff alike.”