Veri-tax, the trusted leader in online tax and income verification, now specializes in providing fast, secure and easy-to-read customer income tax information to bank loan officers and underwriters. Comparing information on official IRS tax transcripts with income data on loan and mortgage applications is the most reliable way for lending professionals to assess a customer’s ability to repay their loans. Our 4506-T processing gives lenders the tool they need to make an informed assessment - the Veri-tax. With industry leading income tax information turnaround times (usually 1 day), a Veri-tax acquired via 4506-T processing gives lenders the official IRS income tax information they need when it matters most, in the pre-funding process.

As many banks move to reduce their number of non-performing loans, they are realizing that 4506-T processing is an essential quality control measure on loan applications. Counterfeit documents, doctored tax returns, falsified employment and salary information, and inflated property value appraisals are all common ways in which borrowers misrepresent themselves on loan and mortgage applications. A Veri-tax obtained through 4506-T processing gives lenders fast access to official IRS tax transcripts that can uncover these loan application falsifications before funding occurs.

4506-T processing is useful in bank mortgage funding as well. Although there are proposed federal guideline changes to require an executed 4506-T, many brokers still choose not to invest in this simple and fast fraud prevention service. Banks interested in protecting their investments and conducting due diligence can quickly process the 4506-T to get their own Veri-tax, insuring that the borrower has the ability to repay.

If you need a fast, efficient and secure way to verify loan applicant IRS income tax information – Fill out a 4506-T today to get your Veri-tax.