To aid mortgage lenders in streamlining the process of verifying a borrower's income, National Credit-reporting System Inc. (NCS), a full-service consumer reporting agency specializing in income, identity and credit intelligence, has integrated with Calyx Software's Point loan origination software (LOS).
Through this integration, users of Calyx Network now have access to NCS' full line of TRV Services tax return transcript products, allowing them to obtain borrower income data from the Internal Revenue Service without leaving Calyx Point.
‘We are pleased to have NCS join the Calyx Network,’ says Dennis Boggs, executive vice president, business development for Calyx, in a release. ‘We look forward to a productive relationship, bringing superior service and profitability to our customers – and their borrowers – in the mortgage industry.’
TRV Services is a unique offering in the mortgage marketplace, providing concise ability-to-repay insight with customizable reports based on data obtained through the IRS form 4506-T, the standard document used to verify a mortgage borrower's income.
NCS has an industry-leading acceptance rate of 96% for the 4506-T forms it submits to the IRS on behalf of its clients and continues to develop new ways for its clients to close more loans while efficiently meeting evolving compliance requirements.
‘By providing TRV Services to all users of Point, we will greatly streamline the borrower verification process and speed up workflows,’ says Curtis Knuth, executive vice president of NCS. ‘We're looking forward to showing current and prospective clients this exciting new integration at next month's 100th Annual Mortgage Bankers Association Convention and Expo in Washington, DC.’
In August, Calyx Software rolled out version 9.0 of Point. The new version gives users a definitive way of determining whether a loan is a qualified mortgage (QM) per the Consumer Finance Protection Bureau (CFPB). Calyx claims the new version provides quick and accurate QM findings that ensure compliance with the rule.
For more, click here.