Verification Services

Verification Services

Verify employment, Social security numbers, and income, without repetitive data entry

Simplified provides lenders with the industry's fastest and most secure method of processing verification results. Simplified has partnered with industry leaders to provide our financial institution clients the ability to verify a borrower's employment status, tax, and SSN information when the need arises.

Employment Verification

Our partner’s well-qualified staff delivers unbiased third party Verification of Employment (VOE), so lenders can quickly and confidently fund a loan. Our VOE report saves time by securely returning detailed employment data and employee salary history.

Features include:

  • Online ordering and detailed real-time processing updates
  • Written verifications typically verified within 72 hours and verbal VOE’s completed in under 24 hours
  • Fannie Mae Form 1005 returned with salary history, hire and termination dates, bonuses, commissions, and probability of continued employment

Income Verification

Simplified provides lenders with the industry’s fastest and most secure method of processing electronic Form 4506-T directly with the Internal Revenue Service. This accelerates and simplifies income verification, while providing an unparalleled level of transaction security and fraud prevention.

Utilizing up to two IRS processing centers, lenders can also monitor and track activity via the Simplified platform. Lenders may also elect to receive an automatic alert if the form/order is not accepted by the IRS - which reduces fees and improves lender's turnaround time.

Features include:

  • 24-48 hour IRS tax transcript turnaround time
  • Custom tax transcript summary sheet
  • 4506-T E-sign options
  • Tax transcripts and wage information include:1040, 1065, 1120, W-2, K-1, 1099 and W2’s

Social Security Number (SSN) Verification

Simplified has also partnered with the industry leader to provide our clients with the opportunity to verify a borrower’s SSN information. Lenders can monitor and track activity via the Simplified platform. Lenders may also elect to receive an automatic alert if the form/order is not acceptable to the IRS – which reduces fees and improves lender's turnaround time.

Features include:

  • 100% verification of SSN directly through the Social Security Administration
  • Provides “Match”, “No Match” or Deceased result
  • Results returned within one hour
  • U.S. Patriot Act Compliant
  • Fulfills FACTA Red Flag Rule Requirements
  • Borrower consent required
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