The verification of loan documents can be daunting especially if there are high volumes with quick turnarounds. The challenge is to meet the timeframes of the deal and provide a comprehensive loan review against the Data Tape in order to assess risk. Loan eVerification is a cloud-based solution that provides an automated loan verification platform for multiple asset classes.

Loan eVerification Features

  • Secure File Upload – Loan documents can be downloaded directly from DocuSign, our secure upload tools, or via our API. Our system is constantly monitoring for files that have been uploaded.
  • Document Classification – The system can automatically identify document types and uses this information to determine the most efficient data extraction method.
  • Data Extraction – The system utilizes DocuNECT’s Discovery technology to automatically extract data from the loan documents. All data extracted is linked to the location in the document it was discovered.
  • Data Verification – Business rules are defined to automatically validate and verify the data against the data tape. Optionally, the solution can check for missing document type and missing signatures.
  • Diligence Workflow and Reporting – Exceptions found in the verification process can either be presented as a report, or in a workflow to help facilitate the resolution.

Benefits

  • 100% Loan Review – The eVerification solution verifies every loan and does not rely on a sampling plan that may miss critical issues.
  • Exception Management – If any exceptions are found a workflow task is created and they are reviewed by a specialist.
  • Fast Turnaround – Significant focus on an efficient process and the separation of the verification and certification allows for a very fast turnaround once certification is needed.
  • Process Transparency – Customers can log in at any time and monitor the process via the eVerification dashboard. Customers can optionally receive notifications of progress.
  • Verification Drill Down – Customers can drill down and analyze the results down to the loan level, and are able to review audit trails, extracted data and documents.
  • Performance – Hosted on scalable architecture, the eVerfication can respond to meet the needs of your business.

Need More Information?

Click on the link below to complete our Loan Verification questionnaire and one of our sales representatives will contact you.

Loan Verification Information Request – DocuNECT

  • CAPTURE

    Capture documents from a number of different sources.

  • DISCOVERY

    Use business rules to classify documents and extract data.

  • DISTRIBUTION

    Consume the verified documents and extracted data.

  • MANAGEMENT

    Secure repository for managing documents.

  • RETENTION

    Manage the document retention and disposition process.