Equifax Introduces 'Mortgage Duo' Product

Equifax Introduces 'Mortgage Duo' Product

November 20, 2020
Equifax logo.

Equifax released its Mortgage Duo product in hopes to help mortgage bankers and brokers better accommodate co-borrower applications, according to a press release.

Mortgage Duo gives credentialed mortgage lenders, with permissible purpose, to leverage a single transaction through The Work Number database to return instant verifications of employment and income for joint applicants, according to the release. It eliminates the need for a lender to place individual orders for each borrower's report.

"We recognize that people often apply for mortgages with a co-borrower, such as a spouse," said Joel Rickman, senior vice president of Verification Services for Equifax. "The breadth of The Work Number database, with more than 111 million active records, allows us to deliver a new verification solution that helps lenders continue to build efficiency into their digital originations. With Mortgage Duo, they can instantly verify employment and income for both borrowers through a single automated transaction which helps decrease duplicative tasks and further reduces friction in the loan origination process."

Technology

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