For the first time, lenders can verify all of a borrower’s assets in minutes. VODChek eliminates the potential for borrower fraud, reduces loan file errors and allows lenders to close loans faster than ever before.
Regulation and oversight are the new normal for lenders
Today’s mortgage bankers and originators face a lot of pressure to lend money wisely. Yet falsified bank and asset statements create billions of dollars in mortgage fraud every year. And the process of verifying this information is time- consuming and riddled with paper.
Lenders now have a new option.
VODChek provides instant, automated electronic bank statements from nearly any institution. Through a secure, web-based platform, lenders can get up to three months of borrower transaction details and access to flexible reporting tools.
With VODChek, lenders get:
- Instant account verifications
- Reports approved by Fannie Mae
- Access Data from 15,000 financial institutions
- Secure, web based access to bank records
- Bank transactions going back up to three months
- Anytime, anywhere access
- One fee per borrower – not institution