#United States #Philadelphia #Equifax #Xactus #Work Number

Xactus Debuts The Work Number® Report Indicator

Xactus, known for its innovative verification solutions within the mortgage sector, has announced a significant advancement: the introduction of The Work Number® Report Indicator from Equifax. This new feature is integrated into their flagship product, Xactus360, which is recognized as the industry's first Intelligent Verification Platform (IVP).

Enhanced Verification Process

Supported by a robust technological framework, Xactus360 now allows lenders to quickly and efficiently assess an applicant's employment status. By incorporating The Work Number into the credit report process, lenders can obtain vital employment information, giving them a clearer perspective on a consumer's financial profile from the outset.

According to Greg Holmes, Xactus' Chief Revenue Officer, this enhanced capability not only streamlines the verification process but provides lenders comprehensive insights earlier in the loan application journey. He remarked, "By providing more of the data lenders need upfront, we are helping them to have a more complete picture of a consumer's financial profile earlier in the process." This statement highlights Xactus' commitment to improving the efficiency of mortgage operations.

A Complimentary Offering

What sets this feature apart is that it comes as a complementary service for clients ordering their credit reports through Xactus while utilizing The Work Number for income and employment verifications. This additional indicator reveals whether there has been an active record reported within the last 36 months. Consequently, lenders can receive this valuable employment data concurrently with the credit report, thus minimizing the need for separate inquiries and expedite the decision-making process.

Partnership with Equifax

Xactus' collaboration with Equifax has established a significant milestone in the mortgage industry, facilitating greater access to employment information through The Work Number database. Joel Rickman, Equifax’s General Manager and Senior Vice President, commented on the partnership, emphasizing their shared goal of delivering unique, data-driven solutions to optimize workflows for lenders. He stated, "We're proud to partner with Xactus to offer its customers streamlined access to our newest solution, The Work Number Report Indicator, providing unique employment insights earlier in the mortgage loan qualification process." This partnership not only enhances the service offering but also positions Xactus and Equifax at the forefront of data-driven solutions in the financial services sector.

The Importance of Accurate Employment Data

In the realm of mortgage lending, having timely and accurate employment information is crucial. Lenders rely heavily on this data to mitigate risk and make informed decisions. The Work Number is widely recognized as a leading source of consolidated employment information across the United States, and as an authorized reseller of Equifax products, Xactus is poised to leverage this database effectively.

In conclusion, Xactus' launch of The Work Number® Report Indicator is a testament to its dedication to enhancing the mortgage verification process. By providing lenders with immediate access to essential employment data, they empower them to make faster and more informed lending decisions. To learn more about utilizing The Work Number Report Indicator with Equifax credit reports, interested parties can reach out directly via email or visit Xactus' official website.

For additional insights and updates, prospective clients are encouraged to follow Xactus on LinkedIn or check their website for more information.