Three Offerings, One Solution
The Perfect Fusion of Old-School Dependability and New-Age Efficiency
In today's fast-paced mortgage landscape, professionals find themselves at the crossroads of needing to make decisions quickly while ensuring they stay within the boundaries of stringent compliance and due diligence. Enter AutomatIQ Borrower Tax Transcripts, a service not just built for the present but designed with foresight, balancing the robust dependability of traditional methods with the swift sophistication of transformative technology. Let's explore how each product within the AutomatIQ Borrower verification solution suite symbolizes this synergy.
Solutions
Product 1:
4506-C Direct
A true testament to time-honored practices, 4506-C Direct offers a deep dive into up to a decade of IRS-verified income data, providing a meticulous framework for lenders who place immense value on thorough compliance. This option is perfect for lenders who require a reliable, comprehensive view of a borrower’s financial history. It offers up to ten years of IRS-verified income data, ensuring thorough verification and compliance.
Industry Standard
The 4506-C Direct product is widely regarded as the standard in the lending industry, a proven and essential tool for lenders.
Widely Adopted
Given its reliability and comprehensive coverage, the 4506-C Direct product is already deeply integrated into the workflows of many lending institutions.
Compliant
The 4506-C Direct product helps lenders maintain regulatory compliance by obtaining taxpayer consent through the 4506-C form.
Integration
It is integrated with major Loan Origination Systems (LOS) for streamlined processing, reducing manual data entry, minimizing errors, and expediting the loan approval process.
Proactive Tracking
A proactive tracking system ensures that orders are completed promptly, minimizing delays and improving borrower satisfaction by expediting the lender's application process.
Day 1 Certainty
4506-C Direct is authorized under Fannie Mae’s Day 1 Certainty program. This authorization relieves lenders from certain income-related reps and warrants, offering greater security and compliance.
Product 2:
4506-C Borrower Assisted
In a dynamic world, agility is vital. 4506-C Borrower Assisted serves those who seek to streamline the income verification process without cutting corners. By engaging borrowers directly and leveraging the IRS’s API, this option invites efficiency into the fold, resulting in outcomes that save time and conserve resources. It strikes the perfect balance between reliable results and modern-day practicality.
Traditional to Transformative
Elevate from traditional 4506-C forms to the advanced, superior 4506-C Borrower Assisted. Balancing tradition with modernization, we bring you seamless, near-real-time digital income verification.
Verification Accuracy
Experience accuracy in income verification. Our integrated service harnesses IRS API and data connections to reduce human error and provide reliable, current data.
Swift Processing Speed
Witness almost instantaneous verification, designed specifically for the urgent timelines of the financial and lending sectors.
Maximize Costs Saving
Maximize cost savings by reducing rejections through our enhanced accuracy. Fewer IRS rejections mean less money lost to resubmission fees, administrative handling, and delays
User-Controlled Privacy
ID.me sign-in allows users to manage their information disclosure, creating a safer environment for accessing IRS services while preserving user privacy.
Efficient Interfaces Reduce Training
User-intuitive design that streamlines operations and diminishes the need for extensive staff training for the initiator or borrower.
Product 3:
Halcyon's Form 8821
And for those who dare to embrace the full potential of the now, Form 8821 is the frontier. It embodies forward-thinking, delivering widespread data swiftly and more affordably than ever. This service is the beacon of transformation, lighting the way toward a future where verification doesn't mean a lengthy wait.
Advanced Processing
8821 delivers IRS responses in minutes or days, based on the borrower’s chosen method, significantly faster than the industry average turnaround time of days or weeks.
Fast and Cost Efficient
8821 is faster and significantly more cost-effective, offering up to a 25% reduction in cost per loan compared to industry averages.
Additional Transcripts Pulls
8821 charges per loan for transcript pulls, providing access to updated information without additional per-pull fees.
Fannie Mae® and Freddie Mac®
Halcyon's Form 8821 service has been granted approval by both Fannie Mae and Freddie Mac, indicating that it meets the requirements and standards set by both organizations.
* Freddie Mac approval is for use with LPA Asset and Income modeler to assess for income R&W eligibility.
User-Controlled Privacy
ID.me sign-in allows users to manage their information disclosure, creating a safer environment for accessing IRS services while preserving user privacy.
Personal and Commercial
Provides both personal and business tax transcripts, offering a more complete financial picture for lenders.
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For more information, visit corelogic.com/verifytax
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