Avantus TRV Service Authenticates Borrower Income, Assists Lender's Compliance with New Secondary Market Requirements
All you need is a signed 4506-T form to validate your borrower's information through the IRS and SSA.
Avantus offers its customers access to Tax Return Verification (TRV) services that offer protection for validating the borrower's income through the IRS and SSA in an expedited fashion. Our TRV service provider is the only tax return verification provider recommended by Freddie Mac in their Seller Servicer Guide. This TRV service also meets the requirements of Fannie Mae and others in the secondary market. Due to recent changes in underwriting guidelines in the secondary markets requiring income verification on all self-employed borrowers; this product is taking center stage because it allows for income verification within 24-48 hours.
TRV service offers authenticated income information with each request. Whether self-employed, salaried, commissioned or earning income through other sources, TRV reports gives lenders a fast, simple, convenient and reliable way to verify all of the borrower's reported income.
TRVs are perfect for verifying income for:
- First and Second Mortgage Underwriting;
- Home Equity Loans and Lines of Credit;
- Commercial Loan Underwriting;
- Even your Internal Audit department can use TRV to review recent closings.
Have you reviewed your income verification procedures?
To learn more, call your Avantus representative today at (800) 243.0120 or click here.