Advantage Credit Inc. is pleased to announce the integration of AccountChek™, an award-winning solution for verifying a borrower’s assets to their expansive inventory of product offerings.
“We are very excited about being able to offer AccountChek™ to our customers,” said Don Unger president of Advantage Credit, Inc. “It is a great product that will make the process of verifying a borrower’s assets much more efficient, less costly and it is now seamlessly integrated into our reporting platform.”
AccountChek™ collects data directly from virtually any financial institution and generates reports in just minutes, creating enormous time savings for both borrowers and lenders. By eliminating the need for paper bank statements, AccountChek™ also helps significantly reduce buyback exposure and fraud, while also providing lenders with an easy solution for complying with new “ability-to-repay” rules.
AccountChek™ through Advantage Credit includes the following features:
• Statements are approved by all of the GSE’s
• Provides a summary page highlighting large deposits, non-sufficient funds incidents and an aggregate view of multiple accounts
• Automated verification of whether the account holder’s name matches the borrower name
• Historical account views going back 30,60 and 90 days, including all deposits and withdrawals
• Encrypted digital certificate to prevent document tampering
• Ability to add accounts and share information with authorized parties
• Statements are available within minutes
• Less costly than the fees of the mortgage investors for faxed verifications
• Accessible from smart phones, tablets or desktop computers
Earlier this year, the underlying technology behind AccountChek™ was awarded a U.S. patent for its proprietary process of electronic certification of a borrower’s bank account data.
See more at – http://www.advcredit.com/announcing-new-vod-product/
