Digital Reverifications: Save Time, Money and Catch Fraud

Mortgage lenders are required to audit closed mortgage loans for quality control and fraud. Unfortunately, reverifications are often besieged by manual activities including printing bank account statements, looking up addresses, stuffing envelopes, and making follow-up phone calls. And when lending volumes increase, reverifications become a significant drain on resources.

Digitizing reverifications—from sending the request to receiving responses back from financial institutions—removes all those roadblocks. Sean MacDonald, Sales Executive with Thomson Reuters, discusses the benefits of digitizing mortgage reverifications and how lenders can get started with a digital platform. MacDonald will discuss:

• Why the time is right to digitize reverifications
• How digitization lowers costs, increases speed and efficiency, and improves fraud detection
• How to make the business case for digitizing reverifications
• What to look for in a digital reverification platform