Efficiently & Quickly Validate Income & Employment
Xactus employment and income verifications provide the information that lenders need to make informed lending decisions.
Instantly authenticate with direct access to employer payroll records
Xactus offers access to millions of employment records through various online databases, and you can automatically cascade/waterfall between them.
- The Work Number® – A solution offered through Equifax Workforce Solutions*, and the largest collection of payroll records contributed directly by employers. We are an authorized reseller. Through The Work Number, we enable you to get fast validation of employment information and consumer income if requested to make informed decisions. The Work Number database contains millions of employment records contributed by employers nationwide. This information is updated every payroll cycle, so you’ll always receive the most up-to-date information possible.
- Experian Verify™ – This database is powered by the most current data available and delivers employment and income verification data directly from trusted payroll sources in real time.
Validate income & employment manually for consumers’ info not available online
Xactus can manually verify employment and income and provide you with the validation you need in just one to three business days. We follow a uniform, auditable process that ensures you receive data you can trust.
We even can perform verifications on self-employed consumers. Our experienced team conducts a thorough, auditable investigation including reviewing the consumer’s business and regulatory listings.
Ensure consumer is still employed before loan closing
It’s easy to re-verify employment just before closing to ensure that your applicant is still employed. All you need to do is access your account and click on the Re-verify Now icon. The status of your applicant’s employment will appear if the original employment verification was conducted through The Work Number or Experian Verify. If the Xactus team originally conducted a manual verification of employment, our verification experts will contact the employer again to re-verify.
Key benefits of our employment & income verifications include:
- Integration to Day 1 Certainty® services from Fannie Mae through Desktop Underwriter® (DU®)
- Validate information quickly and easily
- Re-verify employment and income before a loan closes
- Control variable costs with a fixed cost per loan
- Increase productivity by using an outside source for verifications
Authorized Report Provider status does not imply Fannie Mae’s endorsement of Xactus’ products or services. The Work Number is a service provided by TALX Corporation, provider of Equifax Workforce Solutions. TALX Corporation is a wholly owned subsidiary of Equifax Inc. Xactus is an authorized reseller of certain products and services ordered by TALX Corporation.