Docutech, a top provider of document and compliance technology for the mortgage and consumer lending industries, and Veri-Tax, a leading 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, the companies announced in a release.
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 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, the release said.
Integration simplifies the process of obtaining and submitting tax transcripts to Fannie Mae’s DU, while the 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.
“We’ve been very pleased with the success of the ongoing partnership between Docutech and Veri-Tax,” Docutech President and Chief Operating Officer Amy Brandt said in the release. “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.”
“We are pleased to enrich our partnership with Docutech, especially as we’ve become a Fannie Mae authorized report supplier,” Veri-Tax Customer Happiness CEO Nick Lim said.