Veri-Tax, the trusted leader in online income tax verification, offers two specialized services, 4506-T processing and the Mortgage Fraud Report™, designed to help mortgage brokers, originators and lenders cut down on cases of mortgage fraud. A 2006 FBI study sampling three million mortgage loans found that between 30% and 70% of early payment defaults could be linked to misrepresentations in mortgage 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 applications in order to fraudulently obtain mortgages. To counter these and other sophisticated fraud schemes, we offer advanced 4506-T processing along with the Veri-Tax Mortgage Fraud Report™ for today’s mortgage lending professional.
Mortgage brokers originate 68% of all mortgages in the US. Comparing official IRS tax transcripts obtained via processing the 4506-T with borrower provided information on mortgage applications is the most reliable way to prevent mortgage fraud during the pre-funding process. Recognizing these facts, the US Congress has strongly encouraged that brokers implement safeguards such as 4506-T processing as a way to cut down on mortgage fraud before applications are submitted to lenders for approval. Following the federal government’s recommendation, more lenders and banks are mandating that 4506-T processing be completed before they accept mortgage applications.
We specialize in providing the fastest and most secure 4506-T processing (usually 1 day) on the market. When you order a Veri-Tax via our 4506-T processing, you are getting the most reliable and efficient income tax verification service available. Plus, a Veri-Tax acquired through our high-speed 4506-T processing gives you the information you need to expedite the funding process while meeting the fraud prevention expectations of banks and the federal government.
Verifying applicant income tax information has never been easier, so get your Veri-Tax via our fast and secure 4506-T processing today.
The Veri-Tax Mortgage Fraud Report™ is another custom service we offer to mortgage professionals. The Report is a comprehensive fraud prevention solution that combines four powerful information verification and validation services including InstantID® Identity Validation, Subject Property History, Address History and Employer Verification. Information collected on these reports is organized into one cohesive and easy-to-read document for fast and efficient comparison to borrower submitted application materials.