Application Data Verification

DB+

PitchPoint’s Application Data Verification (ADV) reports contain a series of customizable verifications focused on loan application, borrower, and property data, shielding lenders from fraud and undiscovered applicant misrepresentation. Featuring robust integrations with the most popular loan origination systems and credit ordering platforms, ADV creates operational efficiencies for lenders through focused reporting and technology based on lender needs.

ADV Fraud Risk Report
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A comprehensive and customizable fraud risk tool assesses hundreds of data points per loan file, delivering a concise, easy-to-read report. Reviewing and clearing alerts is seamless with the Pointservices alert resolution platform, which is imbedded in predominant loan origination and verification systems.

 

  • Package is customizable to meet lender and investor requirements.
  • Pass/Fail indicators simplify the review process.
  • Risk Score model can be tailored to lenders’ needs.
  • Data elements may be refreshed prior to closing with no time limitations or additional cost.
  • Alert clearing occurs within LOS, creating operational time savings.
  • Key loan data verifications include:
  • Borrower Identity
  • Ownership & Foreclosure History
  • Lien History
  • Civil Court Case History
  • Employer Details
  • SSN Usage History
  • Property History & Tax Information
  • Automated Valuation Models
  • Neighborhood Trends
  • Declared Disaster Alerts
  • Industry and Custom Watchlists Review
Civil Court Search
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Robust reporting of national bankruptcy, lien, and judgment data, helps lenders detect unpaid and historical consumer debts.

 

    • Proprietary matching, filtering, and consolidation algorithms ensure maximum accuracy.
    • National data from municipal, county, state and federal courts.
    • Optional suppression of bankruptcy data.
    • Customizable court case age filtering.
      Record research available.
ID Investigation
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Identity verification technology rapidly searches billions of public records, validating identity while distinguishing between high-risk discrepancies and potential input miskeys. The report indicates which identity data elements were verified, provides an explanation of discrepancies, and may indicate alternative data that are associated with verified data elements.

 

    • Massive network of consumer information provides early ID alerts not returned by traditional credit repositories.
    • Industry and custom watchlists can be included.
    • Risk score is displayed with explanation of key drivers of score results.
    • Input address is verified via USPS and standardized address.
    • Option to include overall median household income based on zip code.
    • API available for credit report red flag comparison with ID Investigation, providing quick identification of potential ID Fraud.
Participant Report
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Proprietary filtering and matching logic are used to provide the highest level of accuracy as each loan participant is verified against thousands of excluded party records.

    • Names of individuals and companies are checked against excluded party records.
    • No manual key entry needed with integrated LOS or loan file import.
    • Lenders can search up to 22 watchlists, including GSE required lists, investor-specific lists, and custom lists.
SSA Direct
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Direct submission to SSA validates whether an individual’s name, SSN, and DOB match SSA records.

    • Borrower authorization is required (SSA-89 form).
    • Deceased indicator is returned if SSN holder is shown as deceased in SSA records.
    • Service is available via LOS integrations, credit ordering platforms, and website.
SSN History
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The SSN History product returns rich historical usage information related to an SSN. It compares input name, SSN, DOB, address, and phone to historical usage data and indicates whether matching results were found.

    • Alternate SSNs used by the applicant are identified.
    • Details of additional consumers using the applicant’s SSN are available.
    • Input information is verified, with alternates provided if mis-key is detected.
    • SSN is verified against the SSA Death Master List.
Employer ID
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The employer validation report taps into leading corporate and phone data repositories to validate an employer’s existence, as well as confirm the current registered owner of the input phone number from the loan application.

    • Business directory details are returned, including known address and phone for the business.
    • Company’s key executives are displayed.
    • Drive time distance is provided from residence address to employer and subject property to employer.
IRS Tax Transcripts (D1C)
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Tax transcripts service from IRS.

    • Transcripts for 1040, 1065, 1120, 1099 and W2 forms.
    • D1C key returned on transcript summary page.
    • Multi-year transcripts available.

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