Monday, February 07, 2011

Private Investigator News: Lenders required to verify employment through third-parties

"The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 includes language that would require lenders to use an independent, third-party source for verifications of employment and income – no exceptions. After the recent rash of foreclosures and loan repurchases, the industry was already moving in that direction.

How do you achieve third party sourcing for all verifications? The answer, now, is The Work Number.

As many of you know, The Work Number has been expanding the scope of employer coverage in stages. We currently can retrieve verifications for any employer, even those not included in our database. Early this year, we added solutions for verification of the self-employed."

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Location Oakland, Ca | San Francisco, Ca | California - Private Investigator