Verification of Deposits & Assets
Verify Assets Digitally with Verification of Assets & Deposits
Xactus helps you validate a consumer’s assets, deposits, and account activity with statements delivered directly from the consumer’s financial institution (bank, checking, savings, or investment).
Electronically verify consumer’s bank account & investment balances quickly & accurately
Xactus’ Verification of Assets and Deposits is an essential part of your due diligence during the mortgage loan approval process. Having a clear view of your applicant’s account balances enables you to review cash reserves to prevent costly loan buybacks or other problems. It also allows you to help authenticate employment by reviewing deposits from employers.
Xactus offers Asset Validations through Account Chek™ Asset Report (FormFree) and Finicity reports that help save you time and help minimize the risk of fraud.
- Eliminates the need to obtain print copies of applicant bank statements
- Provides 3rd-party asset and deposit verifications accepted by the GSEs
- Minimizes the risk of fraud because the data is provided directly from the financial institution
- Provides accurate verification
- Ensures security/consumer privacy
- Enables a re-pull report for up to 60 days (Finicity) or up to 90 days (AccountChek)
- Accessible via smartphones, tablets or computers
Xactus also offers the option to traditionally verify assets and deposits using bank statements and Fannie Mae form 1006.