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Mortgage Lenders Benefit with the Most Accurate Identification Results Together with Improved Processing Productivity

CHESTERFIELD, Mo.--(www.AllPayNews.com)--DataVerify today announced the release of IDVerify 2.0, an updated version of its industry-leading identity theft verification system used by lenders, investors, insurers, bankers and other financial institutions to verify all of the critical consumer applicant information on mortgage applications. In an analysis of a top five U.S. mortgage lender’s verification data, IDVerify 2.0 eliminated more than 50 percent of errant matches common with ID validation systems, thus resulting in a streamlined origination process that increases loan-processing productivity while reducing potential loan fraud and unnecessary verification costs.

“This solution will assist lenders to make more informed decisions with an eye towards quality of reviews, as well as speed of processing,” said Mike Moseler, chief information officer of DataVerify. “Our goal is to provide our customers with the best decision tool in the industry, and we are doing exactly that with IDVerify 2.0. We listened to our customers listing their challenges in this changing market and we are proud to provide them with a solution that is truly beneficial to them.”

Based on a comprehensive aggregation of relevant and proprietary information coupled with an advanced matching analytical engine, IDVerify can quickly identify legitimate users, reduce false positives, minimize costly queries to the Social Security Administration, and ensure compliance with Red Flag Rules.

“Our new IDVerify 2.0 combines our company’s unparalleled data and unmatched fraud red flag decision engine,” Moseler said. “These elements combine to provide comprehensive FACTA (Fair and Accurate Transaction Act of 2003) or Identify Theft Red Flag Rules coverage available, giving the lender powerful and precise tools to combat fraud in reducing potential loan losses and market volatility.”

About DataVerify

DataVerify is a leading provider of fraud prevention and decision management solutions for the mortgage industry. First to market with such impactful fraud prevention tools as real time payroll registry verification, automated salary verification, and undisclosed real estate and businesses, DataVerify continues to lead in the development of unique new solutions to the ever changing landscape of fraud and credit risks in today’s mortgage environment.

For more information about DataVerify, call 866-895-3282 or visit www.dataverify.com

Contacts
Paul Werth Associates
Becca Litchfield, 614-224-8114 ext. 241
rlitchfield@paulwerth.com