Verify Income Tax Returns and Reduce the Risk of Loan Fraud

Rapid Reporting provides an online income verification process that provides an efficient and cost effective means to verify an individual’s income from the IRS with Form 4506T. Over 60% of all mortgage fraud includes income or identity misrepresentations.

Benefits

• Produces tax transcripts in as little as 24 to 48 hours
• Reduce risk exposure by verifying the accuracy of income data provided by the borrower
• Eliminates careless mistakes that result in IRS rejections and applicants with less than accurate financial information
• Allows lenders to expedite the underwriting process
• Decreases loan processing time and increases efficiency
• Detects potential fraud and reduces the risk of repurchase demands
• Generates email confirmations when faxed documents are received and results are posted

Options

Choose a report that fits your needs:

• 1040 – For personal tax transcripts
• 1065, 1120, 1120S – For corporate and business tax transcripts
• W-2 Information – Employer reported financial data
• 1099 – Payments made to an individual or company for services provided
• K-1 Information – Partnership reported financial data
• Stated Doc – Requires a 4506T, but only reveals confirmation of filing for specified years, and existence of Schedule C and/or E
• Stated Income – Requires a 4506T, but only reveals confirmation of filing for specified years, existence of Schedule C and/or E with a minimal income level stating the borrower reported income greater than or equal to XXXXX”