SettlementOne understands how important underwriting decisions have become to lenders and the critical nature of timely closings. To better assist lenders in streamlining the closing process SettlementOne has implemented a turnkey automated Tax Verification feature. Lenders now have direct access to all necessary applicant tax documentation required for loan approval. With rapid return times on Tax Verification orders, same day decisions are now viable.
SettlementOne’s dynamic tax verification feature may be utilized for requesting copies of 1040 personal income tax returns, W-2 employer reported wages, 1099 payments to an independent contractor or investor income statements and 1065, 1120 or 1120-S business tax records. To assist in expediting the request process, 4506 consent forms may be either uploaded directly into the system or faxed over.
- Income verified directly with the IRS
- Easy-to-use automated system
- Standard same-day return time on orders
- Expedites underwriting process
Pull quote: Automated tax verification reduces loan closing times, giving lender the ability to make underwriting decisions much faster.