Docutech, a provider of document and compliance technology for the mortgage and consumer lending industries, and Veri-Tax, a national verification provider, have expanded their integrated services to enable lenders to easily obtain the tax transcripts needed to enroll in Fannie Mae’s Desktop Underwriter (DU) validation service. Once enrolled in DU, lenders are able to receive Fannie Mae’s Day 1 Certainty, which frees them from representations and warranties for validated loan components.
Veri-Tax is authorized to provide 4506-T tax transcripts through the Fannie Mae DU validation service. By expanding the integration between Veri-Tax and Docutech, lenders that use Docutech’s ConformX platform can easily satisfy Fannie Mae’s requirements by placing and retrieving tax transcript orders seamlessly within ConformX, where borrower information is already stored, while shortening the loan process by days.
Fannie Mae’s DU validation service is designed to provide its customers with enhanced loan origination controls, improved processes and certainty around the borrower’s income, asset and employment information. When a lender opts in to use the DU validation service and obtains an eligible verification report from a vendor such as Veri-Tax, DU will use the data on the report to validate the borrower’s information and provide the lender with Day 1 Certainty for the loan.
With the partnership between Veri-Tax and Docutech, lenders are able to use ConformX to submit tax transcript requests through Veri-Tax for simple 4506-T fulfillment, saving several days in the loan process.
Docutech President and Chief Operating Officer Amy Brandt said, “We’ve been very pleased with the success of the ongoing partnership between Docutech and Veri-Tax. Our integrated service allows shared customers to easily satisfy IRS requirements by automating the verification process and enabling lenders to place and retrieve tax transcript orders within our flagship software ConformX, where borrower information is already stored.”
Veri-Tax CEO of Customer Happiness Nick Lim added, “We are pleased to enrich our partnership with Docutech, especially as we’ve become a Fannie Mae authorized report supplier. We believe the combination of our ‘customer happiness’ differentiation and the innovative Fannie Mae Day 1 Certainty benefits the robust Docutech platform and offers compelling value of protection, speed and efficiencies for our shared customers.”