Verifications Focus

The Affordable Care Act: Preparing for 2015

ACA Alert

January 1, 2015 is an important date for the Affordable Care Act. This is not only when large employers must begin providing healthcare coverage to eligible employees, but it’s also when organizations must start tracking all the necessary data to fulfill section 6055 and 6056 reporting requirements. While many employers believe they do not have [Read More…]

Questions are the Answer for Millennials in Auto Finance

Millennial Car Buying

The next generation of car buyers is walking through showroom doors with mounds of student debt and thin credit files, making creditworthiness particularly challenging to discern. For dealers looking to better serve the swiftly growing millennial market, Equifax’s resident auto marketing expert Jenn Reid recently shared practical advice with Car Biz Today on how to help align this growing customer base with the [Read More…]

Keep Customers from Selling Themselves Short

dream car

A common misconception in auto lending is that there’s a high propensity for customers to overstate their income. In reality, what Equifax has found is that around 25% of borrowers overstate their income while 75% actually under-report what they make. In either scenario, getting an accurate representation of employment and income data eliminates many uncertainties [Read More…]

A Week of Innovation and Leadership in the Used-Vehicle Industry

Used Car Week - Auto Finance

The Equifax team is gearing up as the countdown begins to Used Car Week at Red Rock Casino, Resort & Spa in Las Vegas, Nevada November 10-14. This week-long event hosts four outstanding conferences in one: CPO: The Pre-Owned Conference – Nov. 10 & 11 SP: The SubPrime Forum – Nov. 10-12 Re3: Recovery, Repossession, [Read More…]

INFOGRAPHIC: The Value of Automated Employment and Income Verifications

home auto mortgage TWN infographic

New Data from Equifax Workforce Solutions underscores the value of The Work Number.  The INFOGRAPHIC serves as an outline of the comprehensive Equifax employment and income verification services.  It highlights the unique data assets that make up The Work Number database, secure access points to this data, related HR services, and details how this benefits employers, employees, and [Read More…]

Beyond Credit Scores in Subprime Auto Loans

auto trust verify subprime

We’re gearing up for Used Car Week in Las Vegas Nov. 10-14 and all things subprime vehicle lending. Even with more stringent and strict regulatory enforcement by the Consumer Financial Protection Bureau, subprime auto loans account for about 32% of approved originations. As the subprime vehicle market continues to grow, “trust but verify” is good [Read More…]

How Hazard Insurance Verification Helps Improve the Lending Process

Verifying hazard insurance is much more effective through VOHI.

A new verification system, called VOHI, is making it easier and more cost effective for mortgage lenders to verify hazard insurance.

E-Verify Announcements – myE-Verify and Record Disposal

employment tax webcast

E-Verify has been active recently with several new announcements over the past few weeks.  While they may not have a significant immediate impact, the release of myE-Verify along with new Record Disposal rules present a perfect opportunity to review your overall procedures related to E-Verify.  Highlights of the recent announcements include the following: myE-Verify: A [Read More…]

How Can I Streamline My Mortgage Lending Process?

Speed up your mortgage processing with better employment, income and identity verification.

New verification services are creating a more efficient, effective, mortgage lending process.

Is the Subprime Auto Market Creating a Bubble?

Data shows that subprime auto lending may not be creating the next bubble.

Is subprime auto lending creating the next bubble? Analysis of data by economists Amy Crew Cutts and Dennis Carlson suggests otherwise.