How it works
STEP 1 - Borrower can register their accounts on a secure site online or using their mobile device.
STEP 2 -ACCOUNTCHEK goes to work:
- Verifies account balances and deposits.
- Calculates cash flow and residual income.
- Analyzes the data for irregularities.
- Alerts for fraud, irregular deposits, NSF's and other suspect activities.
- Verifies employment,ownership and income.
STEP 3 - Loan Officer receives account documentation for all required verifications. This replaces the time consuming process created by using the VOD 1006 Form or bank statement collection.
Click here if you'd like to sign up or would like more information on this product.
Trusted Source for Account Verification
Accepted by investors in lieu of paper
statements and the VOD 1006 Form.
FNMA , FreddieMac,
Chase, Wells Fargo,
Many other investors
Meets QM verification standards.
FCRA approved for FHA.
Meets CFPB requirements.
Fulfills Dodd-Frank Act 'Ability-to-Repay'
Adds another layer of Fraud Protection
There are two types of VOD services available:
This is a snap shot report. All data on accounts is delivered in a single report at the time it is ordered.
This service provides you with monitoring of all accounts. Alerts are sent out when balances and accounts change. This service can be turned on for 60 or 90 days, depending on your funding