The Work Number, St. Louis, introduced new services and enhanced functionality within its outsourced verification service. The company has launched two new automated products: AuditChek and AccountChek.
AuditChek enables lenders to computerize direct retrieval and authentication of executed tax transcripts (4506-T), SSA identity verification or proof of employment and income using The Work Number, and to make that information available throughout the loan life cycle (or within a broker network). AccountChek was developed to automate the process of deposit and asset verification, providing an electronic confirmation of a borrower’s account balance and analysis of transaction history without direct manual interaction of the borrower’s banking or other financial institution.