CreditPlus now offering instant Verification of Deposits and Assets (VODAs) through AccountChek, a safe electronic system that saves you time and virtually eliminates the risk of fraud.
Stop the paper chase!
Electronically verify deposits and assets instantly
Streamline the verifications process with Credit Plus. We’re now offering instant Verifications of Deposits and Assets (VODAs) through AccountChekTM, a safe electronic system that saves you time and virtually eliminates the risk of fraud.
Using AccountChek, you can electronically verify borrower accounts quickly and safely:
- No need to obtain print copies of applicant bank statements.
- Provides 3rd-party asset and deposit verifications accepted by the GSEs.
- Eliminates fraud because the data is provided directly from the financial institution.
- Your borrower authorizes account access.
- You receive a report on the borrower’s assets.
- Ability to re-pull report for up to 90 days.
- Access via smartphones, tablets or computers.
- Credit Plus also offers the option to traditionally verify deposits and assets using bank statements and Fannie Mae form 1006.
Results accepted by Fannie Mae and Freddie Mac
Electronic verifications of deposits and assets help ensure applicants meet Ability-to-Repay requirements. Both Fannie Mae and Freddie Mac recently revised their guidelines to allow acceptance of electronic third-party vendor VODAs.