The Future of Verifying – simple, secure, and saving lenders money
eVoE™ enables employers to sign and complete a 1005 form electronically, entirely online through our secure eDocument Solutions portal, a first for the mortgage industry. Our users experience significantly shorter turnaround times, reduced costs, and accuracy is increased.
More than 30% of VOEs are returned with inaccurate or missing data that the lender is responsible for correcting or for making a second attempt to collect. That takes time, slows the origination process, and increases costs.
To eliminate those challenges, Advanced Data created our eDocument Solutions that generate the following benefits to clients:
- Lenders are not exposed to the risks inherent in transmitting personal financial data through e-mail or a fax machine.
- Lenders are able to complete more VOEs because the forms are returned without errors or missing required data.
- The technology is configured so that VOEs cannot be returned to the lender until they are 100% completed.
- The possibility of illegible handwriting is eliminated.
- Lenders will never have to go back to the employer for more information or to correct a mistake.
How it Works
- Order VOE through any compatible LOS or through the Advanced Data website. There are no additional requirements to use eVoE™.
- The Advanced Data VOE team contacts the employer and sends them a secure link to access the eVoE™ portal.
- The employer completes the entire VOE process online - including entering income information and signing electronically.
- The completed report is retrieved through your LOS or through the Advanced Data website.