DataVerify’s technology solution is focused on identifying borrowers and loan participants who may represent an increased risk to your portfolio, whether that risk is “fraud for housing” or “fraud for profit”. Besides fraud prevention, the DRIVE report provides data verification and compliance assistance.
DataVerify assists to:
Identify and authenticate the borrower, and all participants to the loan transaction.
Verify the information supplied by borrowers in their loan application.
Assess the value of the property to be purchased or refinanced.
Streamline the loan review process.
The DataVerify report is ordered through Encompass.
In Encompass, inside the loan file, go to the Services tab and select the Order Fraud/Audit Services option. You can use either the Services tab on the bottom left corner of the screen, or the Services dropdown menu at the top of the screen.
If you are prompted to select a vendor, select Data Verify DRIVE and click the Submit button.
This will open the Report Request window. Make sure to input your username and password. You may check the Save Login Information box to keep the information saved in Encompass. Then, click the Order button.
The report will be created and uploaded to the Fraud/Audit Services bucket in the eFolder.
