AFI
Resources, a leading provider of income verification services, today
announced the completion of the integration of its secure tax
verification system, etaxrecords.com, into Calyx Point®, the mortgage
industry’s leading loan origination and processing software.
Recognizing the recent trend in today’s residential market for lenders
to require income verification, AFI Resources and Calyx developed an
XML data exchange interface that allows Point users to verify their
borrowers’ incomes with just a couple clicks inside their Point
software, with 24 hours processing by AFI Resources. This integration
addresses the industry-wide need for loan originators and lenders to
detect fraud early on in the loan process.
According to LA Times author Michael A. Hiltzik, “Countrywide says it
has taken steps to tighten lending standards, along with the rest of
the mortgage industry. Among other things, it has eliminated piggyback
home-equity lines and no-down-payment mortgages and requires income
verification from borrowers with down payments of 10% or less.” And
other lenders are likely to add the same requirements.
The integration of etaxrecords.com into Point makes it quick and easy
for loan originators to verify income without encountering the delays
of waiting for borrowers to locate their tax returns and risking having
their loans denied right before closing or even at the closing table.
They are also able to detect fraud during pre-funding, when it counts
most.
“Verifying Income protects the borrower from buying too much house, and
protects the lender from potential buy backs. It’s a step towards a
better world, based on sound business practices and common sense,”
states David Munoz, AFI Resources, Inc.
According to Dennis Boggs, Senior Vice President of Business
Development at Calyx Software, “This integration makes it even easier
and quicker for Point users to originate and process their loans. This
simple-to-use service will lessen the risk for them and for the lenders
they work with, making it a very attractive addition to the Calyx
Network of services.”
For additional information regarding AFI Resources’ etaxrecords.com
Income Verification Service, visit www.afi-resources.com or call (561)
988-2530. For Information on Calyx Point Software, visit
www.calyxsoftware.com or call (800) 362-2599.
